Chinese police have warned there has been an increase in digital yuan-themed scams, as the nation’s CBDC rollout gathers pace. Per the state-run news outlet CCTV (via Xinhua), officers in Shandong Province claimed they had seen a rise in digital yuan-themed “fraud.” They said one recent scam had ensnared “tens of thousands of people.” Officers…
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A Chinese city says it is rolling out offline digital yuan “hard wallets,” with the nation targeting CBDC uptake among “elderly citizens and children.” Per Changsha Evening News, the city of Changsha, Hunan Province, has announced it will debut “elderly and children-friendly” digital yuan hard wallets. The CBDC’s adoption drive could be hampered by the…
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Chinese charities are now accepting digital yuan donations, with the nation’s CBDC also breaking new ground in the world of corporate loans. Per the media outlet WXRB, the coastal province of Jiangsu has welcomed its first “online corporate and personal digital yuan donations platform.” At a ceremony held earlier this week, the state-run commercial bank…
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Major Chinese state-owned banks have lowered interest rates on U.S. dollar deposits. However, they reportedly dismissed claims that the moves were influenced by the Chinese government, stating that the rate cuts were market-driven. Chinese Banks Reduce Dollar Deposit Rates Major Chinese state-owned banks reportedly cut the maximum interest rates they offer on U.S. dollar deposits…
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Russian Finance Minister Anton Siluanov has given his opinion on the perceived attack the Russian economy has been receiving from the U.S. dollar, and how the country has moved to keep trade going. Siluanov also remarked on the importance of developing settlements in national currencies. Russian Finance Minister Anton Siluanov: ‘The Dollar Has Challenged Russia’…
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There is no shortage of regulatory efforts to mitigate the negative impacts of artificial intelligence. The lively discussion around artificial intelligence (AI) continues. Last week, dozens of AI experts — including the CEOs of OpenAI, Google DeepMind and Anthropic — signed an open statement with a single sentence: “Mitigating the risk of extinction from AI…
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China’s perspective on web3 has come to light through a recently released white paper that suggests China is open to incorporating web3 into its future internet. In the paper, the term “Internet 3.0” is defined as a “three-dimensional space that combines virtual and real realms with a highly immersive interactive experience,” and it describes a…
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Uniswap and its foundation have no association with the scam as efforts are being made to combat it. Hayden Adams, the creator of the Uniswap protocol and CEO of Uniswap Labs, recently expressed his surprise on Twitter regarding a scam where individuals created a fake Uniswap website. In a tweet, Adams indicated his astonishment at…
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Coinbase CEO Brian Armstrong has stated China will be one of the biggest beneficiaries of how the U.S. is approaching cryptocurrency regulation. According to Armstrong, the current regulatory system drives cryptocurrency innovation offshore, while other countries like China embrace these technologies. Future generations will have to pay for these decisions, Armstrong believes. Coinbase CEO Brian…
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Digital yuan payment adoption is stepping up in China ahead of the Asian Games, with venue cities rolling out a range of central bank digital currency (CBDC) transport options. Per Shanghai Securities News, preparations are in advanced stages in the host city of Hangzhou, Zhejiang Province. The city was slated to host the event in…
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