Grayscale victory, SEC delays decision on Bitcoin ETFs: Law Decoded
Grayscale victory doesn’t help Bitocoin spot ETF approval on first deadline as SEC postpones decison to next deadline. Go to Source
People’s Bank of China
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Digital yuan integration introduced to Chinese business air travel
The Civil Aviation Administration and China Merchants Bank said passengers will be able to utilize the digital currency to access new services via this platform. Go to Source Powered by WPeMatico
Chinese state media removes video on crypto after Binance CEO calls it ‘big deal’
Although China has maintained a hostile stance against crypto, the recent developments in Hong Kong got many to speculate about its impact on China. Go to Source Powered by WPeMatico
Inflation in China Down to Lowest Number in More Than Two Years; Analyst Proposes Giving Cash Handouts to Avoid Deflation
Inflation in China registered an increase of 0.1% year-over-year in April, according to numbers from the National Bureau of Statistics of the country, falling below expectations. Some analysts are already warning about the dangers of deflation, even calling on the Chinese government to deliver cash handouts in order to push consumer demand. Low Inflation Numbers … Read more
China Pushes Digital Yuan for Wage Payments in Changshu
Changshu, a city in China with more than 1.5 million inhabitants, will pay public workers’ wages with the Chinese central bank digital currency (CBDC), the digital yuan. The move marks an acceleration of the adoption plans that Beijing has for the digital currency, which has been included in some limited programs before. Public Employees in … Read more
China to expand CBDC use case for Belt and Road Initiative
China was one of the first nations to start working on its CBDCs. However, despite the completion of its development, the government is yet to officially launch the CBDC. Go to Source Powered by WPeMatico
Report: Nigeria-China Currency Swap Agreement Fails to Ease Pressure on the Naira
Nigerian economic experts have said the country’s five-year-old currency swap agreement with China has not eased the pressure against the Nigerian currency. According to one expert, implementation of the swap arrangement is being held back by the size of the trade imbalance between Nigeria and China Easing Pressure on the Naira According to experts on … Read more
CBDCs should protect privacy, not be a surveillance tool: Former CFTC chair
The former CFTC chair argues that AML and KYC measures are outdated and constitutionally questionable and said crypto technology can do better. Go to Source Powered by WPeMatico
China’s Hainan to boost NFT oversight as digital yuan trial ramps
Hainan’s market regulator wants to promote NFTs as part of the digital economy, but will actively work to weed out bad actors and speculative behavior. Go to Source Powered by WPeMatico
Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’
During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of gold in Q3 2022. The study highlighted that it was the “most on record,” and the WGC researchers also spotted a “substantial estimate for unreported … Read more