The former governor of the central People’s Bank of China (PBoC) has reiterated claims that the forthcoming digital yuan has been designed primarily for retail use by domestic and even international users – not for cross-border trade purposes. China has loosely pegged the value of its yuan fiat to the USD for years, and…
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First images have emerged of specialized digital yuan wallets provided by the Tencent-run e-pay platform WeChat Pay. Although the wallets are still in what appears to be beta testing and are not yet fully functional, some media outlets – such as Sina – appear to have been able to open wallets and test their…
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“We solemnly call on consumers to […] be vigilant and stay away from NFT-related illegal financial activities,” said the associations. The China Banking Association, the China Internet Finance Association and the Securities Association of China issued a joint statement warning the public about the “hidden risks” of investing in nonfungible tokens, or NFTs. In a…
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As a number of countries across the globe are working on developing their respective central bank digital currencies (CBDCs), ensuring a separation between identity and transaction data could produce a better environment for privacy protection and could lead to public confidence and trust in using CBDCs, according to a recent paper released by the…
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Frances Haugen, Facebook whistleblower at large, has now turned her focus to the Metaverse. She is worried about how Meta will handle privacy and intensely sensitive information. Facebook whistleblower Frances Haugen has taken aim at Meta in a new interview, suggesting that its version of the Metaverse will simply repeat all of its past mistakes.…
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Bored Ape Yacht Club owners can take advantage of IP rights by auditioning for a BAYC movie trilogy, while other popular NFT characters now make up the cast of iHeartMedia’s latest podcast venture. Bored Apes take on the restaurant and movie business The Bored Ape Yacht Club, or BAYC, NFT holders own the intellectual property rights…
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The co-founder and former CEO of Bitmex, Arthur Hayes, has published a new blog post concerning the current state of cryptocurrency markets. Hayes says currently there’s an inability to recognize the cyclical nature of markets and the “inconvenient truth” that is crypto is now moving in “lockstep” with market equities. Hayes expects the Nasdaq 100…
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The Chinese e-pay platform WeChat Pay has unveiled a digital yuan interoperability solution that will allow users of the service to make payments in the central bank-issued token. As reported, the central People’s Bank of China (PBoC) has recently expanded the number of cities included in its pilot for the digital CNY to include…
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China’s central bank, the People’s Bank of China, has added more cities to test its digital currency. According to the latest official data, the digital yuan has more than 261 million users.
PBOC Adds More Cities to Test Its CBDC
The Chinese central bank, the People’s Bank of China (PBOC), said Saturday that it…
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