Answers to rampant rumours about the digital yuan

Answers to rampant rumours about the digital yuan

(ATF) Speculation about China’s digital yuan has been rife all year. At present, the digital yuan is being tested in Shenzhen, Suzhou and other places, but to most of the country's 1.4 billion people it is still a mystery. In the China Financial Stability Report (2020) released on November 6, …

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China crackdown fuels bitcoin surge

China crackdown fuels bitcoin surge

(ATF) Bitcoin broke through $18,000 on November 18 to hit its highest level since December 2017, and has soared about 160% this year. Many analysts attribute the rise to hedging against future inflation or the global search for yield, but Singapore-based trading firm QCP Capital noted the simple supply and …

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China gets new bank note. But why?

China gets new bank note. But why?

(ATF) China has released a new five-yuan banknote. But as the central banks rolls out its digital currency, and electronic payment technologies such as Alipay and WePay account for a growing number of transactions, many wonder about the purpose of the new bill. The paper note was unveiled on November …

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Many central banks looking at digital currencies

Central banks develop digital currencies 

(ATF) The coronavirus has accelerated the world’s move away from cash. Now central banks are considering developing digital versions of the notes and coins in our wallets. Sweden and mainland China could well launch CBDCs – central bank digital currencies – during 2021. These are not cryptocurrencies or units used …

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Fed's Powell: More important for US to get digital currency right than be first

Fed's Powell: More important for US to get digital currency right than be first

In any development of a cross-border digital currency, it is more important for the United States "to get it right than be first," Federal Reserve Chair Jerome Powell said on Monday. "We do think it's more important to get it right than to be first and getting it right means …

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China digital yuan gift not enough to win over consumers

China digital yuan gift not enough to win over consumers

SHENZHEN/HONG KONG/SHANGHAI - China's experimental $1.5 million giveaway of digital yuan to Shenzhen citizens ended on Sunday with acclaim from currency analysts - and scepticism from some users saying they preferred existing shopping tools like the ubiquitous Alipay app. Under the week-long programme, the People's Bank of China (PBOC) gave …

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Bank of Japan official downplays fears over China's digital currency

Bank of Japan official downplays fears over China's digital currency

TOKYO: No single digital currency will dominate global transactions if central banks strive to enhance their own settlement systems, a senior Bank of Japan official said, brushing aside fears China's rapid progress on a digital yuan could upend markets. China, which has been ahead of other major economies in experimenting …

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