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“# Banks fall in line as China’s central bank cracks down on crypto accounts ” The Agriculture Bank of China (AgBank) — the world’s third-largest bank by assets — is set to implement Beijing’s firm anti-cryptocurrency measures and rigorously vet its clients to ensure they are not engaged in any form of illegal activities involving…
“# Digital yuan conceived to counter Alipay-like platforms, says former PBoC executive ” China’s digital yuan will utilize smart contracts, and will be built to counter Alipay-like payment platforms designed by the privately owned conglomerates, former People’s Bank of China director Yao Qian said. Speaking at the International Finance Forum in Beijing, Qian argued that…
“# China’s digital yuan os backup to AliPay and WeChat Pay, says official ” China’s central bank digital currency, or CBDC, will provide backup for major retail payment services like AliPay and WeChat Pay as its key objective, according to an official at the People’s Bank of China. Mu Changchun, head of the People’s Bank…
“# China’s CBDC is about domestic dominance, not beating the dollar ” For the past several years, the trade war between China and the U.S. has been at the center of international relations, with technology playing an outsized role. Within crypto, advancing interest in central bank digital currencies has become part of that narrative of…
“# Jack Ma resurfaces in new video after an almost 3-month ‘disappearance’ ” Jack Ma, the founder of Chinese e-commerce group Alibaba, has made his first public appearance since October, bringing almost three months of intense speculation about his possible whereabouts to a close. In a new video clip published online on Jan. 20, Ma was reportedly…
“# China’s Ant Group releases digital copyright platform on AntChain ” Chinese fintech Ant Group — which is now poised to launch what could be the world’s largest initial public offering — has announced a new platform via its blockchain business. Ant Group spun out from e-commerce giant Alibaba and is the parent company of…