Tag Archives: digital yuan

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The central bank of China has recently issued a report claiming that bitcoin trading in the country has fallen from about 90 percent to ten percent worldwide at the time of writing. China Bitcoin Trading Has Really Fallen Automatically, we feel a huge inclination to shout, “Duh!” at the bank’s representatives. If they are reporting this in surprise, they are on the wrong track. China has worked very hard over the past year to ensure that bitcoin and crypto trading has no...

Many analysts are working to discover why it is that bitcoin has suddenly taken such a nasty price stumble. The world’s number one digital currency by market cap has fallen below the $40,000 mark after hovering there for the past several weeks, and it looks like it may be because BTC is in line to face some stiff competition from the Federal Reserve. The Federal Reserve Wants to Issue a New Cryptocurrency The Fed has issued a statement explaining that it has been looking...

Donald Trump – the 45th President of the United States – doesn’t want other currencies coming in and threatening the U.S. dollar. This includes bitcoin. Donald Trump Doesn’t Want the U.S. Dollar Threatened Trump has not always been friendly to bitcoin. He made several disparaging comments about the digital asset in 2019 that saw many people react negatively and lash out on Twitter. His comments were: I am not a fan of bitcoin and other cryptocurrencies, which are not...

The United Kingdom and the Bank of England are looking into potentially unveiling a new bank-issued digital currency. The Bank of England Wants Its Own Version of Crypto There are several countries over the past few years that have been exploring the idea of utilizing bank-issued currencies to boost financial prowess. Among the only nations to have done so thus far is China, which drew back the curtain on its plans for the digital yuan as early as 2019. While the...

China has had a very up-and-down relationship with bitcoin. The nation has often been rather harsh with the world’s number one digital currency by market cap, and yet in many ways, it holds a large stake in the digital currency market. Much of the world’s bitcoin mining operations stem from China; it houses the two biggest distributors of mining equipment in both Bitmain and Canaan Creative, and it was once one of the world’s largest purchasers of BTC. China Now Seems to...

As bitcoin hits a new all-time high this week of just under $63,000 per unit, it appears that several members of Congress have different feelings towards the world’s number one digital currency by market cap. Kevin McCarthy – the House Minority Leader and a Republican from California – has reported that he is a fan of bitcoin, and that the U.S. government needs to wake up when it comes to implementing the appropriate regulations. Kevin McCarthy: The U.S. Is Losing Out In...

As interest in bitcoin has grown over the past few months, so has interest in China’s digital yuan. The Digital Yuan Is Making Headway Bitcoin has been booming over the past six months, with the world’s number one digital currency shooting up from $10,000 in early October to about $59,000 at press time. That is an increase of almost five times the original price. However, the interest in BTC is also stirring interest in other forms of crypto such as the digital yuan....

The Chinese digital yuan is now a thing of reality. Following what has been a lengthy period of testing, the People’s Bank of China has launched approximately $1.5 million worth of the virtual currency.The Digital Yuan Is Being Released on 50,000 PeoplePrior, the digital yuan was being tested through American businesses such as Subway, but now, it looks like the currency has entered a whole new phase of its development process. The currency’s pilot program saw the Shenzhen Municipal...