Category: China
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China’s central bank lays regulatory foundation for CBDC
The new draft law legitimizes digital yuan and may criminalize the issuance of yuan-backed stablecoins by third parties
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Blockchain is still far from maturity, says China’s former IT minister
He doesn’t seem to think China is that far ahead of the USA when it comes to blockchain development — at least for now.
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Proposed Chinese Law Outlaws All Yuan-Pegged Tokens – Except for Its CBDC
The new version will essentially also clear the way for the digital yuan to be the one and only official yuan-pegged token in mainland China.
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Chinese Authorities Crack Down on Gambling Sites Using Tether Stablecoin
Chinese authorities have arrested 77 individuals and shuttered gambling sites using the dollar-pegged tether (USDT) cryptocurrency.
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Hong Kong ‘Exploring’ Collaboration With China on Digital Yuan: Finance Chief
A cross-boundary digital yuan could bring Hong Kong closer to China, Hui said.
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OKEx’s lips remain sealed on its sudden crypto withdrawal freeze
OKEx’s secrecy around locking customer withdrawals has led to misinformation and confusion around what’s happening with the exchange.
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Pomp says US digital dollar needs to happen now
The U.S. doesn’t mind coming a bit late to the CBDC party, but is that the wrong approach?
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Filecoin creator denies strike allegations
“Miners are following the protocol, and making a ton of money doing so,” said Juan Benet on Twitter.
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Better to get it right than to be first with CBDC, says US Fed chair
The U.S. already has a “safe and active dynamic domestic payment system,” Powell argued.
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First Users Not So Impressed by China’s Digital Yuan: Report
A recent giveaway of China’s in-testing central bank digital currency has reportedly left recipients wondering why they should swap from existing solutions like Alipay.