Tag Archives: people bank of china digital currencies

In a follow up to what is seen as a follow up to the Chinese blockchain technology buildup, the People’s Bank of China has introduced a regulatory unit under the auspices of the central bank to regulate digital payments, blockchain products and fintech services that center around decentralized finance within the country.Sources indicate that under the new agency, a new system has been put in place to certify about 11 different categories of financial products which are both hard and soft....

Although China has introduced an absolute ban on cryptocurrencies in 2017, the country has been making major developments in the blockchain space. Currently, China holds the most number of patents in the blockchain sector, leading its rival U.S. by a considerable margin.In a move to dominate the blockchain industry, Chinese president Xi Jinping has urged the country to accelerate the adoption of blockchain technologies. In the future, the country with higher technological superiority will...

The People’s Bank of China (PBoC) announced that the long-awaited central bank-issued digital currency will not be ready in November as it had been predicted in crypto circles. From the bank, they added that reports saying Alibaba and Tencent are among the first financial institutions to receive the currency was incorrect.This came as a surprise because just few weeks ago we could hear that it will “be better than Libra“, and they even enthroned their new digital currency chief Changchun Mu...