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” China’s digital yuan gets smart contract functionality alongside new use cases “ China’s Central Bank Digital Currency (CBDC) — the digital yuan, or eCNY — has received upgrades giving it smart contract functionality alongside a series of newly unveiled use cases. The smart contract function was launched on the Meituan app, a Chinese app…
” Former Chinese central banker says digital yuan ‘usage has been low’ “ A former official of the People’s Bank of China (PBOC), the country’s central bank, has expressed disappointment that China’s digital yuan is seeing little use. Xie Ping, a former PBOC research director and current finance professor at Tsinghua University, made critical public…
” China’s CBDC wallet resorts to ages-old tradition to boost adoption “ China’s wallet app for its digital yuan central bank digital currency (CBDC) introduced a feature for users to send money in an electronic version of traditional “red packets” to try to attract new users. The new feature was released over the weekend, around…
” Here’s what you should know about the upcoming US midterms: Law Decoded, Oct. 31–Nov. 7 “ The United States will go to the voting booths on Nov. 8 to decide the fate of all 435 members of the House of Representatives and 34 out of the 100 Senate seats. The outcome will decide the…
” Australian senator drafts bill aimed at stablecoin, digital yuan regulation “ Australian Liberal Senator Andrew Bragg has released a new draft bill aimed at clamping down on digital asset exchanges, stablecoins, and China’s central bank digital currency, the e-Yuan. In a statement on Sept. 18, Senator Bragg stated that “Australia must keep pace with the…
” Crypto Biz: Helicopter CBDC money rains on Shenzhen, May 26—June 1 “ China’s pandemic-hit economy needs all the help it can get after a surge in COVID-19 infections triggered mass lockdowns across the country. In an attempt to revive consumption, the southern city of Shenzhen used Beijing’s central bank digital currency, or CBDC, to…
” City of Shenzhen airdrops 30M in free digital Yuan to stimulate consumer spending “ According to local news outlet Shanghai Securities News, the City of Shenzhen will airdrop 30 million digital Chinese Yuan (e-CNY) to local residents in an attempt to revitalize consumer spending. The airdrop is a joint effort between the City of…
” Draft bill to ban China’s digital yuan from US app stores “ Lawmakers in the United States are moving to protect the country from the potential undesirable impacts of the global adoption of China’s national digital currency. Three Republican senators, Tom Cotton, Mike Braun and Marco Rubio, introduced a bill on May 25, aiming to limit…
” Residents of 3 Chinese cities paying taxes and charges with digital yuan “ Residents in three major Chinese cities have begun paying tax, stamp duty and social security premiums using the country’s central bank digital currency — the digital yuan (e-CNY). According to a domestic news report, a number of government agencies in the…
” VanEck says Bitcoin could hit $4.8M if it became the global reserve asset “ American investment firm VanEck believes that Bitcoin has double the upside of gold and could be worth as much as $4.8 million per coin if it becomes the global reserve asset. That’s a big ‘if’ of course, and VanEck thinks…