China's central bank to expand deployment of e-CNY
Over 4,567,000 merchants across the country now accept the e-CNY as payment. According to China's state institution Xinhua News Agency, Lan Zou, head of monetary policy at the People's Bank of China (PBoC), announced that the country would be expanding the number of digital yuan (e-CNY) test sites in the country from 11 to 23. They are spread out across 15 out of 31 of China's provinces and autonomous regions. The PBoC is China's central bank and is responsible for the development of the e-CNY central bank digital currency, or CBDC. During Wednesday's press conference, Zou praised the....
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PBoC deputy governor Fan Yifei said expanding e-CNY trials to the provinces of Guangdong, Jiangsu, Hebei and Sichuan would happen "at a proper time." The People’s Bank of China, or PBoC, will reportedly expand deployment of its central bank digital currency, the e-CNY, to four of the country’s provinces, including Guangdong.According to a Tuesday report from the South China Morning Post, PBoC deputy governor Fan Yifei said at an event in Suzhou that the bank would be rolling out e-CNY trials in the provinces of Guangdong, Jiangsu, Hebei and Sichuan. With a combined population of more than....
Gou Wenjun, director of the Anti-Money Laundering (AML) unit at the People’s Bank of China(PBoC), recently suggested that the already harsh Chinese crackdown on crypto could expand to the metaverse and NFTs, as he claims they represent various risks and more regulations should be considered. Related Reading | Trillion Dollar Mistake: Is China Planning To Reverse […]
The People’s Bank of China (PBOC) has completed a trial run of digital currency based on blockchain technology. According to a recent report from Chinese publishing giant Caixin, the central bank completed a trial that saw transactions settled with its own digital currency. Developed by the PBOC, the digital currency was tested on a blockchain and the trial was completed in mid-December 2016. The trial took place on shared distributed ledger that saw several major commercial banks as participants. The world’s largest bank by assets, the Industrial and Commercial Bank of China along with....
The People’s Bank of China has urged for widening of the array of use-case scenarios for its central bank digital currency. The monetary authority believes that deeper interconnection with traditional e-payment platforms will make the digital yuan more convenient for consumers.
China’s Central Bank Insists on Expanding Digital Yuan Environment
The monetary policy regulator of China has called for improving the integration between the digital yuan (e-CNY) system and traditional tools for electronic payments. The People’s Bank of China (PBOC) says this will....
BTC China announced to its English-speaking users via Twitter today that it has suspended yuan (RMB) deposits from the Bank of China. In its second such announcement since 26th April the exchange said in a (since-removed) tweet: Dear users, Due to regulations, we have suspended CNY deposits from Bank of China. For further enquiries, pls email: [email protected]. - BTC China (@btcchina) May 6, 2014. Chinese exchanges have suffered major setbacks recently after banks finally responded to repeated directives from the People's Bank of China (PBOC) - China's central bank - and shuttered all....