Search Results for: pboc crypto

China Pushes Digital Yuan for Wage Payments in Changshu

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Changshu, a city in China with more than 1.5 million inhabitants, will pay public workers’ wages with the Chinese central bank digital currency (CBDC), the digital yuan. The move marks an acceleration of the adoption plans that Beijing has for the…

China to Expand Digital Yuan Testing in Pilot Cities to Provincial Level

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China’s central bank intends to enlarge the area covered by trials of its digital yuan currency in four regions of the country. A top representative of the monetary authority announced the move while highlighting that the People’s Bank has been stepping…

Chinese State-Run Media Warns About Bitcoin’s Price Falling to Zero as Regulators Issue Fresh Crypto Warning

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A Chinese state-run newspaper has published an article warning about bitcoin’s price falling to zero amid the crypto market sell-off. Meanwhile, financial regulators in Shenzhen have issued a new warning about cryptocurrency. State-Run Newspaper Warns About Bitcoin Becoming Worthless China’s state-run…

US Lawmakers See China’s Authoritarian Crackdown on Crypto as Big Opportunity

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Several U.S. lawmakers see China’s authoritarian crackdown on cryptocurrency, including bitcoin, as “a perfect opportunity for American leadership on cryptocurrency.” One senator noted that it is “a reminder of our huge structural advantage over China.” US Lawmakers Comment on China’s Cryptocurrency…

China’s Crypto Crackdown: Fundamentals Still Show Bull Market Continuation, Bobby Lee Says ‘Don’t Panic’

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The People’s Bank of China (PBOC), the country’s central bank, published a Q&A to its website which said that Chinese citizens participating in virtual currency exchange offshore is “considered illegal financial activity.” The PBOC also reiterated comments it had made in…