Singapore and China have teamed up on a pilot to allow tourists in both countries to spend China’s central bank digital currency, the digital yuan. “This will enhance convenience for travelers when making purchases during their overseas travel,” Singapore’s central bank described. Tourists in China and Singpoare Can Spend Digital Yuan Singapore’s central bank, the…
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Source: Adobe/amixstudio Standard Chartered, a British multinational bank, will initiate exchange services for China’s central bank digital currency (CBDC), the digital yuan, as it is set to participate in its trials. On November 27, Standard Chartered announced that it is set to participate in trials of China’s digital yuan, the central bank’s digital currency…
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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. Authorities from the Hainan province in southern China have vowed to increase oversight on the nonfungible token (NFT) sector to “promote the healthy development” of the sector and to stomp…
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Nine major financial institutions and the Federal Reserve Bank of New York have started to experiment with a digital dollar proof of concept to see if distributed ledger technology can improve settlement between central banks, commercial banks, and regulated non-banks. The New York Fed details that the proof of concept will be done in a…
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