China Tracks Victims of Coronavirus with WeChat and Alipay
Chinese province tracks victims of coronavirus with WeChat and Alipay, does crypto solve this? Go to Source Powered by WPeMatico
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Central Bank of China Pumps 300 Billion Yuan Into Financial System, Cuts Loan Rates
The Chinese government has taken multiple steps so far to contain the economic fallout from the coronavirus epidemic, including interest rate cuts and financial injections worth billions of yuan. It did it again this week, extending the monetary easing provided by the central bank. With the budget under pressure, however, there are indications that Beijing … Read more
Maduro Opens Crypto Casino in Venezuela
Venezuela’s President Nicolas Maduro has authorized the opening of a casino at a luxury hotel in Caracas where bets must be placed in petros, the country’s national oil-backed digital currency. Several cryptocurrencies and fiat currencies can be exchanged into petros to wager in the casino. The proceeds are expected to be used for healthcare and … Read more
China Takes Another Step Away From USD Hegemony
The China Foreign Exchange Trade System (CFETS) announced that effective January 1, 2020, the system “will adjust weights for CFETS RMB Index,” decreasing the weighting of the USD for the second time in the currency basket’s history from 22.40% to 21.59%, and increasing the Euro from 16.34% to 17.40%. The change could signal further disassociation … Read more
Central Bank of China Official Says Digital Yuan Will Be Different From Bitcoin
An official at China’s central bank says that the digital form of the yuan will be different from Bitcoin and stablecoins Go to Source Powered by WPeMatico
Former PBoC Head: China’s Digital Yuan Will Favor Payments and Retail
Longest-serving PBoC governor says China will continue to focus on its digital yuan as a mechanism for domestic retail systems and payment Go to Source Powered by WPeMatico
Another Chinese Lender Bailed Out After Bank Run
Yichuan Rural Commercial Bank, a lender operating in the central Henan province, has become the latest Chinese bank to be bailed out by the government this year. The small financial institution, which has around 30 branches only in the Yichuan county, experienced a bank run sparked by rumors that its top management was in trouble … Read more
China Is Pushing Blockchain Adoption, Seizing the Momentum From US
In the wake of China’s recent decision to push blockchain adoption across its borders, industry experts speak out Go to Source Powered by WPeMatico
Is China’s New Fascination With Blockchain Really Good for Bitcoin?
Blockchain development has kind of become an element of the party line in the world’s largest officially communist state. The General Secretary of the Communist Party of China, Xi Jinping, recently told a Politburo meeting that the People’s Republic has to gain an edge in the emerging field. Some say Xi’s statement brought back the … Read more
Tether Launches New Stablecoin Pegged to Offshore Chinese Yuan
Tether announced that is launching a new stablecoin pegged to the offshore Chinese yuan Go to Source Powered by WPeMatico