Tag Archives: cryptocurrency regulation china

China’s CBDC – digital Renminbi – will be fully centralized, going by a report published by Huatai Securities, a financial services company.Though a date is yet to be announced as to when the digital currency will be officially launched, the recent revelations made about it points towards a release that could be sooner rather than later.How the China’s CBDC is Expected To WorkThe major stakeholder in the currency is China’s Central Bank and under its supervision, the digital Renminbi will be...

It’s a great moment of cheer for all cryptocurrency miners carrying out operations based out of China. In the latest development, the China National Development and Reform Commission (NDRC) has decided to withdraw its proposal of banning crypto-mining activities (including Bitcoin mining) taking place in the country.On Wednesday, November 5, the NDRC published a new catalog for Guiding Industry Restructuring. The new version replaces the earlier one created in 2011 wherein the agency had...

While Facebook is trying to do everything it possibly can to ensure proper regulatory approval before the Libra is launched next year, China’s own digital currency is much closer to its launch. The anticipation for the Chinese digital currency has now had some measurable effect on fintech companies in the country as their stocks seem to be swelling impressively.According to a Reuters report, the China Securities Index Co. (CSI) fintech theme index – an index that follows the major financial...

Zhou Xiaochuan, former governor of the People’s Bank of China (PBoC), gave a speech related to cryptocurrencies at the 10th-anniversary celebration of Senior Finance at the Shanghai Jiaotong University. During this speech, he mentioned that the Central Bank was about to issue a legal digital currency and more than one month after the announcement of this Digital Currency/Electronics Payment (DC/EP), news spread quite wildly.Recently, Mu Changchun, the Deputy Director of Payments and...

Over the last few months, big organizations and government institutions have shown interest in the crypto space. China’s central bank – People’s Bank of China (PBoC) – has fast-tracked its work on introducing a central bank digital currency (CBDC) to the market. However, China’s attempts to launching a CBDC come as a measure to counter the potential competition by Facebook‘s Libra.Commenting on this, Circle CEO Jeremy Allaire said that China has the most progressive approach towards CBDC....