Trying to make the digital yuan more attractive for foreigners, China has added a “recharge before use” feature to its digital currency system. The upgrade will allow visitors from abroad to replenish a digital yuan wallet through the global payment networks Visa and Mastercard among other methods. China Allows Foreign Users of Its Digital Yuan…
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China’s Tencent, the operator of the WeChat and WeChat Pay platforms, will join central bank-led digital yuan and CBDC interoperability pilots. WeChatPay, along with its rival Alipay, has cornered some 15% of the Chinese payments market. But in recent years, Tencent has moved to align with the People’s Bank of China (PBoC)’s CBDC adoption drive….…
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The Shanghai Second Intermediate People’s Court in China has explained that Bitcoin (BTC) stands out as a unique virtual asset based on several attributes including its scarce nature. On Sept. 25, the court published a report “Legal Attributes and Judicial Disposal of Digital Currency” highlighting the controversy in digital data and currency in judicial proceedings…
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U.S. presidential candidate Nikki Haley has warned that China is preparing for war and Chinese President Xi Jinping intends to win. “China is an existential threat. It has spent half a century plotting to defeat us,” she stressed, cautioning that China is “building a massive cutting edge military, capable of threatening America and dominating Asia…
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The e-CNY app now allows tourists to top-up their wallets using Mastercard and Visa payments with a “recharge first and use later” option. Tourists planning to visit the People’s Republic of China can now pre-charge their digital yuan wallets using Visa and Mastercard payment options as the nation continues to update the mobile app powering…
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Chinese scientists are reportedly considering constructing massive facilities to manufacture the technology necessary to create AI semiconductor chips locally. China is looking to build artificial intelligence (AI) chip factories for creating particle accelerators to help bypass sanctions affecting the local industry, according to a report from the South China Morning Post (SCMP). Using particle accelerators…
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Visitors to China can now buy digital yuan tokens with overseas cards via the central bank’s official CBDC mobile app. Per the China Business News, via Yicai, the bank has updated its app to allow visitors to China “to download the digital yuan app from app marketplaces.” The platform has been updated in time for…
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Chinese banks and businesses want to step up their use of digital yuan-powered smart contracts, as the financial and industrial sectors eye CBDC progress. Per the Securities Times (via Stockstar), the state-run Postal Savings Bank of China has “officially” co-launched the nation’s first “prepayment product” to make use of digital yuan smart contracts. Unlike many…
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China’s capital outflows reached $49 billion in August, its highest in nearly eight years. Analysts are debating whether it could be a boon for Bitcoin and crypto. Bitcoin (BTC) could see “substantial inflows” from China within the next few months amid a weakening Chinese yuan and one of the country’s biggest capital flights in years.…
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New Chinese “Super SIM” cards will function as digital yuan wallets, smartcards, and ID cards as the nation’s CBDC pilot continues. Chinese mobile operators such as China Mobile have been working on so-called “Super SIM” offerings since 2016. They have added a range of functionality to the cards in the years since. But the newest…
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