The heavily anticipated BRICS currency is not on the agenda to be discussed at the economic bloc’s upcoming leaders’ summit, according to South Africa’s diplomat in charge of BRICS relations. He clarified that the BRICS members will focus on de-dollarization and promoting the use of national currencies in international trade instead of the U.S. dollar.…
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Chinese telecom operators are growing increasingly keen on digital yuan adoption, a report has claimed, as the CBDC finds new adoption strongholds. Per EY (via Sohu), the central People’s Bank of China (PBoC) is keen to bring the nation’s biggest operators (the likes of China Telecom and China Unicom) deeper into the pilot. The PBoC…
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Tesla’s Q2 2023 Update reveals that the American electric car and clean energy company refrained from selling any of its bitcoin (BTC) or cryptocurrency holdings in the previous quarter. For the past three quarters, Tesla has maintained a digital asset portfolio worth approximately $184 million. Tesla Holds Steady on Bitcoin in Q2 2023, Maintains $184M…
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Authorities in China’s Shanxi Province have arrested 21 individuals allegedly involved in a major Tether (USDT) money laundering scheme. The scheme, estimated to have generated over $54 million, utilized the US dollar-backed stablecoin USDT to launder money, the country’s national broadcasting service CCTV reported on Tuesday…. Read More: 21 Arrested in China for $54M USDT Money Laundering Investigation Read more »Sign up…
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Russian President Vladimir Putin will not travel to Johannesburg for the BRICS summit in August, according to the office of his South African counterpart. Moscow will send Foreign Minister Sergey Lavrov instead, the Kremlin confirmed, emphasizing that Putin will join the event via video link. Putin to Take Part in BRICS Talks on Enlargement, Currency…
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Over 200 Hong Kong stores now accept digital yuan payments, banks have claimed, as China looks to take its CBDC into the cross-border space. The list of e-CNY-accepting vendors includes stores and outlets that cater predominantly to Mainland Chinese tourists. Per Wen Wei Po Hong Kong, the 200+-strong list includes the liquor vendor Duty Zero…
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Chinese business travelers will be able to buy air tickets using the digital yuan, as the nation’s central bank digital currency (CBDC) pilot takes flight. Per the China Civil Aviation Network, the commercial banking firm China Merchants Bank has co-launched an e-CNY platform with the Civil Aviation Administration Clearing Center. The platform will allow companies…
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The Chinese city of Shenzhen says its residents have opened almost 36 million digital yuan wallets, as the nation’s central bank digital currency (CBDC) pilot breaks new ground. Per the Shanghai Securities News and the China Securities Network News, the claims were made by the Shenzhen branch of the central People’s Bank of China (PBoC)….…
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As investors’ euphoria over Bitcoin subsides, regulatory and macroeconomic headwinds resurface to negatively impact the BTC price. Multiple pieces of data point to the Bitcoin price falling below $29,000 in the short term. Yes, you read that right. Let’s investigate the main issues contributing to the current downside in the Bitcoin price. Bitcoin (BTC) encountered…
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The city of Changzhou, China, is set to give away $700,000 worth of digital yuan tokens and coupons before the year is out, as the nation’s central bank digital currency (CBDC) pilot continues. Per Changzhou Evening News (via JSChina), the city is hoping to boost CBDC spending during an upcoming citywide shopping festival by distributing…
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