People’s Bank of China

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…

Chinese Central Bank Says It Will Prioritize Stabilizing Currency After Yuan Plunges to 14-Year Low Versus USD

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Moments after the Chinese yuan’s onshore exchange rate versus the U.S. dollar slumped to 7.2458 pro Dollar, the Peoples Bank of China responded by stating that it will prioritize stabilizing the currency. Similar to other currencies that have been depreciating against…

Chinas Krypto-Crackdown: Fundamentaldaten zeigen weiterhin eine Fortsetzung des Bullenmarktes, Bobby Lee sagt „Keine Panik“

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The People’s Bank of China (PBOC), das Land’s Zentralbank, 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…