CBDCs should protect privacy, not be a surveillance tool: Former CFTC chair
The former CFTC chair argues that AML and KYC measures are outdated and constitutionally questionable and said crypto technology can do better.
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Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’
During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of…
Wuhan omits NFTs from metaverse plan amid regulatory uncertainty in China
The Chinese government has shown a keen interest in developing a metaverse economy, but its stance on NFTs hasn’t been very clear.
Chinese central bank exec says digital yuan will offer ‘controllable anonymity’
China’s digital yuan is one of the earliest CBDCs whose pilot phase has expanded to include millions of users and billions in transaction volume.
Bank of China: Digital yuan transactions volume crossed $14B mark
The largest CBDC pilot in the world is going to expand on citizen payments and cross-border operations with Hong Kong.
Chinese Central Bank Says It Will Prioritize Stabilizing Currency After Yuan Plunges to 14-Year Low Versus USD
Moments after the Chinese yuan’s onshore exchange rate versus the U.S. dollar slumped to 7.2458 per dollar, the Peoples Bank of China responded by stating that it will prioritize stabilizing…
China accounts for 84% of all blockchain patent applications, but there’s a catch
China’s push for blockchain technology gained steam after 2019 when President Xi Jinping called for corporations from tech giants to become industry leaders in the nascent tech.
Chinese Currency Breaches 7:1 Exchange Rate Against US Dollar for First Time in Two Years
The offshore exchange rate of China’s fiat currency versus the U.S. dollar recently breached the 7:1 mark for the first time in over two years, after it touched a new…
Possession of Bitcoin still legal in China despite the ban, lawyer says
Crypto holders in China are protected by the law in case of theft, misappropriation or breach of a loan agreement despite the ban on crypto.
Official explains why China CBDC should not be as anonymous as cash
While cash is associated with more anonymity, it’s still less mobile and easy to use in large amounts than a digital currency, China’s CBDC project lead Mu Changchun said.