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China’s Central Bank: We’re Not Launching Our Digital Asset Yet

The launch of Libra by Facebook changed something in the cryptocurrency landscape; after the launch in June, industry actors started to pay China some heed, with reports indicating that the nation was and still is on the verge of launching its own central bank digital asset/currency. Even high-leve..

Top Chinese Official: Digital Yuan Will Generally Respect Privacy

Amid growing reports of accelerated development around a digital yuan, Chinese President Xi Jinping’s related call last month for blockchain to become “core technology” in China made some cryptocurrency analysts warn of intensified surveillance ramifications in the country. Now, an important offici..

China Is Pushing Blockchain Adoption, Seizing the Momentum From US

Follow up Recently, the National People’s Congress in China cleared a new law that will allow local authorities to start regulating all of the country’s cryptography-related activities starting from Jan. 1, 2020. By creating a new regulatory framework, the Chinese government is looking to establis..

Tether Launches New Stablecoin Pegged to Offshore Chinese Yuan

News Stablecoin firm Tether announced the launch of a new stablecoin tied to the offshore Chinese yuan dubbed CNHT. According to an announcement on Sept. 9, Tether CNHT is pegged to the offshore yuan and available as an ERC-20 token on the Ethereum blockchain. The new currency joins Tether’s other..

Libra Meets Yuan? China Wants “Sovereignty” With New Digital Currency

In recent months, reports have swirled that the People’s Bank of China (PBoC) has been accelerating its plans on a digital version of its yuan fiat currency, partly in response to Facebook’s proposed plans to create an internationally-minded Libra stablecoin. Now, a top official at the Asian superp..

Bitcoin Hit Record Inverse Correlation to Chinese Yuan in Past Week

News Bitcoin price has seen a record inverse correlation with the Chinese yuan (CNY) this week, according to an analysis from Bloomberg on Sept. 6. This suggests that investors are using the digital currency as a hedge against the yuan’s falling value.Bitcoin/CNY correlation chart. Source: Bloom..

Tether Mulls Commodity-Backed Stablecoin to Cut Bank Risk: Report

News Crypto exchange Bitfinex shareholder Zhao Dong has claimed that sister firm Tether plans to release a version of the stablecoin backed by a basket of commodities such as gold, crude oil and rubber. In private correspondence with Cointelegraph on Sept. 3, Dong said that the idea of issuing Tet..

Report: No Bank Account Needed to Transfer China’s Upcoming CBDC

News Binance Research, the research arm of the major crypto platform Binance, has reported that no bank account will be necessary to use China’s Central Bank Digital Currency (CBDC). Loose coupling and anonymityBinance Research shared its findings on Aug 28. According to the report, China’s CBDC w..

Circle CEO Says Tokenized Fiat Currencies Are on the Horizon

News Jeremy Allaire, the CEO of blockchain-based, crypto-inclusive money transfer company Circle, said that the firm has long held that major fiat currencies would eventually be tokenized. Significant digital currenciesIn an interview on Aug. 21 on the podcast Global Coin Research, Allaire said th..

How Bitcoin Demand is Driven by Central Banks Devaluing Their Currencies

The demand for bitcoin has certainly been tangible over the past few months. Even with a correction of around 30% the digital asset is still up over 160% this year. That growth could have been spurred by central banks devaluing their own currencies as economic skies darken. Big Banks Boosting Bitco..

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