China is planning to showcase its digital yuan to the ASEAN nations, and could seek to make “cross-regional use” of its CBDC in the bloc. Some of the ASEAN (the Association of Southeast Asian Nations) members are politically aligned with China. But others are have closer ties to Washington…. Read More: China Looks to Make…
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Despite heavy government regulations and ongoing struggles with hardware sourcing, Tencent’s large language model has been released for business use in China. Chinese technology corporation Tencent unveiled its “Hunyuan” artificial intelligence (AI) system, a multimodal large language model (LLM) similar to OpenAI’s ChatGPT, at the Global Digital Ecosystem Summit in Shenzhen on Aug. 7. Say…
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China is pushing for universal national adoption of the digital yuan, with People’s Bank of China’s (PBOC) officials stating the currency should be available for all retail payment scenarios. The recent introduction of a standard for QR-based payment codes is part of this move, which also seeks to make wholesale payments interoperable with the digital…
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A recent report by The Miner Mag suggests bitcoin mining orders might have sped up Huawei’s development of its new Kirin smartphone chip. The chip, which powers Huawei’s new Mate 60 Pro smartphone, was produced by China’s Semiconductor Manufacturing International Corp. (SMIC) using its N+2 7nm process. Research Suggests Bitcoin Mining Boosted Huawei’s Chip Development,…
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A Chinese central bank chief has claimed the digital yuan will revolutionize the way the nation makes retail payments, and suggested the CBDC could one day “completely replace” cash. Per Yicai, Mu Changchun, Head of the Digital Currency Research Institute at the People’s Bank of China (PBoC), made the comments at the China International Financial…
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The accounts had over 8 million in combined followers before they were removed. Sina Weibo — one of the most popular Chinese social media apps, with over 258 million daily active users — has removed 80 influencer accounts promoting cryptocurrency activities, citing official legislation. According to the Sept. 5 announcement, 80 crypto influencer accounts, with…
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The Bank of China and the e-commerce heavy-hitter Meituan have signed a digital yuan collaboration deal, with both firms looking to step up their CBDC capabilities. Per the Securities Times, via Stockstar, the two firms have sealed a “cooperation agreement” that will see them “deepen” their “digital yuan cooperation.” The new deal will build on…
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Grayscale victory doesn’t help Bitocoin spot ETF approval on first deadline as SEC postpones decison to next deadline. On Aug. 29, crypto asset manager Grayscale Investments scored a major victory against the United States Securities and Exchange Commission in its efforts to convert its over-the-counter Grayscale Bitcoin Trust (GBTC) into a listed Bitcoin exchange-traded fund…
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The head of the Digital Currency Research Institute at the People’s Bank of China (PBOC), Changchun Mu, has emphasized the necessity of making the digital yuan available for all retail payment scenarios. Mu made this statement during a trade forum held in Beijing, where he also underscored the importance of compliance and the acquisition of…
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A Chinese commercial bank has launched new digital yuan-powered recycling rewards programs, with citizens receiving CBDC tokens in exchange for recycling their waste. Per Danzong, via Xinhua, the Qingdao Branch of the Bank of Communications has launched a CBDC-powered rewards solution. The bank debuted its solution in conjunction with the city’s household waste disposal provider…
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