Yuan – Page 3 – DIGIT INFO

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The former CFTC chair argues that AML and KYC measures are outdated and constitutionally questionable and said crypto technology can do better.

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WeChat integrates digital yuan into its payment platform

Chinese social media platform WeChat has incorporated the digital yuan in its payment app to boost the CBDC’s popularity.

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Russian Bank Issues Bank Guarantee in Chinese Yuan Using Blockchain

A bank in Russia has issued the country’s first blockchain-based bank guarantee denominated in Chinese currency. The financial institution underscored the advantages of using a digital form of the document and pointed out that demand for yuan payments is growing. MKB Employs Bank of Russia’s Masterchain to Issue Bank Guarantee in Yuan Moscow Credit Bank […]

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Saudi Arabia Open to Trading in Currencies Other Than US Dollar, Signaling a Shift Toward De-Dollarization

Saudi Arabia Open to Trading in Currencies Other Than the US Dollar, Signaling a Shift Toward De-Dollarization

After a 48-year relationship solely with the U.S. dollar, Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, said the kingdom is open to trading in currencies other than the U.S. dollar. The statements follow China’s president, Xi Jinping, urging the Gulf monarchs to accept yuan for oil, and Riyadh officials saying last March the country would consider […]

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China’s central bank includes digital yuan in report on currency circulation

The 13.61 billion e-CNY represented roughly 0.13% of the 10.47 trillion yuan in circulation at the end of 2022.

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China’s Digital Yuan Little Used, Former Central Bank Official Says

Trials of the digital yuan have produced disappointing results, according to a report quoting the former head of research at the Chinese central bank. The new form of national fiat has brought no benefits to the banks and should expand beyond being employed only as a substitute for cash, the banker believes. Common People Used […]

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China’s CBDC wallet resorts to ages-old tradition to boost adoption

A traditional Chinese way of gifting money that’s gone virtual with the rise of digital payments has been introduced into the digital yuan wallet app.

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Report: Chinese Company Launches Digital Currency Insurance Product

The Suzhou branch of the Chinese insurance company China Pacific Insurance, together with the Bank of Communications, recently announced the launch of a digital currency account insurance product. The launch comes at a time when the number of personal digital currency wallets created in the Chinese city of Suzhou alone now exceeds 30 million. Insurance […]

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Russia’s Largest Digital Asset Deal Denominated in Chinese Yuan

A Russian company has announced the country’s first authorized transaction with digital financial assets (DFAs) involving a foreign currency, China’s yuan. The deal, reportedly the largest made to date under the current Russian DFA law, covers the issuance of tokens secured by commercial debt. Digital Financial Assets for 58 Million Yuan Issued by Russian Platform […]

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Here’s what you should know about the upcoming US midterms: Law Decoded, Oct. 31–Nov. 7

Despite a common mantra about the nonpartisan nature of crypto, there are certain correlations evident ahead of the United States elections.

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