Category: PBOC

Amid Inflation Crisis, Turkey Plans to Issue Its CBDC Digital Lira In Two Years

Amid highly rising inflation and with the Turkish Lira losing value against the USD, the country is now looking for a digital alternative to its national currency. Drawing a leaf from China’s CBDC move, Turkey is all set to launch its Digital Lira in the next two years. On Wednesday, local news agency Sabah published […]

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Bitcoin Price Surge Behind Rising Interest in Digital Yuan: PBOC

People Bank of China, the Chinese Central Bank believes the rising price of bitcoin has contributed to the growing interest in Chinese sovereign CBDC called digital yuan. The statement took many by surprise partly because cryptocurrencies are banned in China for almost 4 years now. Wang Xin, PBOC research bureau director, “On one hand, this […]

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Japan’s Central Bank to Start CBDC Feasibility Tests Next Month Onwards

As the CBDC developments catch pace worldwide, the Bank of Japan is making its own moves. On Friday, March 26, the Japanese central bank said that it will start the feasibility study and test of its own CBDC – Digital Yen – starting next month. The announcement comes just a day after the People’s Bank […]

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Chinese Citizens Can Now Apply for the Digital Yuan Wallet Through 6 State-Owned Banks

Following the interview with Ma Changchun, the head of the People’s Bank of China-run Digital Currency Research Institute, a recent report indicates that residents from Beijing and Shanghai can now apply for a digital yuan wallet. According to the report, six different Chinese banks will participate in the process. Beijing and Shanghai Residents Can Apply […]

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Digital Yuan Won’t Be Fully Anonymous but Offers ‘Controllable’ Privacy Protection, Says Official

Privacy has been a discussion that has not gone unnoticed when it comes to the forthcoming launch of the digital yuan. The head of the People’s Bank of China-run Digital Currency Research Institute had firmly pointed out that anonymity cannot be guaranteed at all. Feature Seeks to Avoid Tax Evasion and Finance Terrorism During an […]

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PBoC official says ‘completely anonymous CBDC is not an option’

An official of the People’s Bank of China (PBoC) has said a “completely anonymous central bank digital currency (CBDC) is not an option” based on international consensus. Mu Changchun, the head of the Chinese central bank’s Digital Currency Research Institute, said in a forum on Saturday that the so-called “controllable anonymity” is at the core […]

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Beijing’s $1.5 Million Digital Yuan Giveaway: China to Airdrop Digital Currency for Chinese New Year

China is giving away 10 million yuan in its central bank digital currency in Beijing. Recipients can spend the digital yuan during the Chinese New Year festival. Beijing has become the third major city in China to test the central bank digital currency. 50,000 People to Receive Free Digital Yuan China is actively testing its […]

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SWIFT, People’s Bank of China subsidiaries form ‘finance gateway’ firm

SWIFT, People’s Bank of China subsidiaries form ‘finance gateway’ firm

SWIFT, along with the clearing center and the digital currency research institute of the People’s Bank of China (PBoC), have together formed a financial gateway company in China, public records show. The new entity, called Finance Gateway Information Service Limited, was registered in Beijing on January 16 with 10 million euros ($12 million) as incorporation […]

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“We Don’t Have Ambitions to Replace Existing Currencies”- Ex-PBOC Chief on Digital Yuan

China’s growing influence in the digital currency space has created a sense of urgency among many western counterparts especially the US who view China’s national digital currency as a threat to their financial sovereignty. The US Dollar is currently the default currency of trade in the international trade market with over 88% of market dominance […]

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Fiat Freeway: China’s DCEP Progress in H2 2020

Fiat Freeway: China’s DCEP Progress in H2 2020

Quick Take ‘Fiat Freeway’ is a weekly column providing the latest updates on central bank digital currencies (CBDCs) and stablecoins.  This week’s column examines China’s Digital Currency Electronic Payment (DC/EP) progress in H2 2020.  This research piece is available to members of The Block Genesis. You can continue reading this Genesis research on The Block.

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