Tag: China

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China, Russia Urged to Speed Up Creation of ‘Cutting Edge’ Payment Infrastructure for BRICS and SCO Currencies

May 24, 2023

The chairman of Russia’s national economic development institution VEB.RF has urged China and Russia to speed up the establishment of a new, “cutting-edge” payment system for currencies of Shanghai Cooperation Organization (SCO) and BRICS nations. “Our relations with China keep getting stronger,” said Russia’s prime minister. Shuvalov Discusses New Payment System for BRICS and SCO…
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Russia ‘Actively’ Working on SWIFT Alternatives, Foreign Ministry Official Says

May 22, 2023

The Russian Federation is collaborating with partners to link payment systems alternative to the interbank messaging system SWIFT, a representative of the country’s Ministry of Foreign Affairs announced. The work is part of the de-dollarization of the economy, the official indicated. Russia Seeking to Substitute SWIFT in Trade as Part of De-dollarization Policy The Russian…
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‘Apple and Google Are Systemic Risks to Crypto,’ Says Ex-Coinbase CTO

May 21, 2023

Authorities in the U.S. and elsewhere may try to compel tech firms like Apple and Google to exfiltrate private keys from devices and apps under their control, crypto entrepreneur Balaji Srinivasan warned on social media. The former executive of Coinbase believes this would be done to remit funds to cash-hungry governments. Tech Giants Apple, Google…
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Chinese Autonomous Region of Guanxi to Adopt Digital Yuan in Push for ASEAN Trade Integration

May 20, 2023

The Chinese autonomous region of Guanxi, located in the south of China, will implement a wide adoption plan for the digital yuan, that includes a push for using it as a trade currency with countries part of the ASEAN bloc. This pilot plan looks to be part of the experimentation to step up the usage…
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Chinese Universities Begin Adopting Digital Yuan – Students to Lead CBDC Drive?

May 18, 2023

Universities in China say they are adopting the digital yuan, and looking for ways to allow students to use the nation’s central bank digital currency (CBDC) in “every” aspect of their campus lives. In an interview with the Chinese media outlet Stockstar, one of the firms at the center of the adoption drive said it…
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Today in Crypto: Ripple Acquires Metaco, Tether to Buy BTC Monthly Using Realized Profits, WazirX Claims Binance Controls WRX

May 17, 2023

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Ripple Acquires Metaco, Tether to Buy BTC Monthly Using Realized Profits, WazirX Claims Binance Controls WRX  Read more »Sign up for e-EUR – the progressive stablecoin

New Chinese Blockchain Pivot as Beijing Vows to Train 500,000 ‘Experts’

May 17, 2023

China is gearing up for another blockchain technology push after promising to train half a million new “experts” to work in the sector. Blockchain was earmarked as a growth sector by Chinese President Xi Jinping in 2018. In the years that followed, blockchain salaries ballooned in the nation. But in recent years, Chinese blockchain fervor…
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Chinese prosecutors to crack down on ‘pseudo-innovation’ in NFT market

May 17, 2023

According to public prosecutor, marketing models such as rewards and dynamic rights and interests can easily evolve into illegal pyramid schemes. On May 15, the Supreme People’s Procuratorate of the People’s Republic of China, the national agency responsible for legal prosecution, shared its thoughts on the non-fungible token (NFT) market. In an article published, three…
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Hunan Province, China, Debuts Digital Yuan Loans for Small Businesses – Another CBDC First?

May 17, 2023

Hunan Province, China, has debuted new digital yuan loans for tech startups – with Beijing keen to explore more central bank digital currency (CBDC) financing options. Per the Changsha Evening News, via JDZ, three startup founders became the first people to be awarded CBDC loans from the state-owned Bank of Communications. In a first for…
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De-Risking or Decoupling? China- US Bilateral Trade Falls More Than 10% This Year

May 15, 2023

Analysts have criticized the new ‘de-risking’ strategy that the U.S. is currently using against China, explained by U.S. National Security Advisor Jake Sullivan in April, clarifying that national security was over economic costs. These de-risking policies might affect bilateral trade, which fell by 11.2% to $217.9 billion during the first four months of 2023. ‘De-Risking’…
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