Chinese Central Bank "May Adopt a Long-Term Perspective" on Bitcoin
These Chinese are, without any doubt, at the forefront of the price increases behind Bitcoin late this year, and as a result, the cryptocurrency has been making headlines just about everyone. We're now at a point where huge businesses are accepting the currency, and even governments are recognizing Bitcoin as legal tender. But for as long as Bitcoin has existed, there's a been a black cloud above it. Central banks. It's the exact opposite of what Bitcoin is all about. No authority, no central bank. So it's interesting to know what the Chinese Central Bank has to say on Bitcoin. According....
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Yi Gang, the deputy governor of the People's Bank of China, this week mentioned bitcoin in comments that have sparked optimism in the country's bitcoin business community. Speaking in Chinese at an economic forum, Mr Yi made statements to the effect that it would be impossible for China's central bank to recognize bitcoin as a legal, legitimate financial instrument "in the near future". But perhaps more significantly, he added that people should be free to buy and sell bitcoins on exchanges with no interference from the central bank, and that he would personally look at the digital....
India’s central bank, the Reserve Bank of India (RBI), has proposed to adopt a “graded approach” to launching the country’s central bank digital currency (CBDC). The RBI also said it is exploring the pros and cons of introducing a digital rupee in India. RBI on the Upcoming Digital Rupee Launch The Reserve Bank of India released its annual report for 2021-22 Friday. India’s central bank digital currency (CBDC) is among the many topics discussed in the report. “The design of CBDC needs to be in conformity monetary policy, financial stability and....
Deutsche Bank has called on Europe to accelerate the development of central bank digital currencies. Deutsche Bank, the largest banking institution in Germany, is confident that central bank digital currencies, or CBDCs, will replace cash in the future.The bank’s research arm, Deutsche Bank Research, published a new report on economic estimations and proposals to assist global economies hit by the coronavirus pandemic. Titled What We Must Do to Rebuild, the new edition was released on Nov. 10.In the report, Deutsche Bank states that the ongoing COVID-19 pandemic has accelerated the....
The People’s Bank of China (PBOC), the Chinese central bank, has revealed how its central bank digital currency (CBDC) is being used at the Beijing Winter Olympics. A top PBOC official says, “It seems all the foreign users are using hardware wallets.” Digital Yuan’s Latest Trial A top official from the Chinese central bank, the People’s Bank of China (PBOC), provided an update of the latest trial of the Chinese central bank digital currency (CBDC) during a webinar arranged by the Atlantic Council Tuesday. The digital yuan, or e-CNY, is currently being....
As China keeps paving the way to adopt its central bank digital currency (CBDC), scammers are also actively emerging on the scene. The police in a Chinese province are now warning about a “sophisticated” CBDC-themed scam. Bogus Platform Is Set to Be Launched in March, Say Scammers According to a post from the cybercrime unit of the Weifang police force in Shandong Province, a scam named “Central Bank’s International Wallet” is claiming to be a digital yuan wallet platform. The bogus platform seems to have caught almost 500 users as of press time. The scam....