#PBOC News

China National Blockchain Network Goes Live April 2020

People’s Bank of China Pledges to “Accelerate” Blockchain Development, Boost Local Industry

May 14, 2020 by Aisshwarya Tiwari at Blockchain

The Financial Technology Committee of the People’s Bank of China, the country’s national bank, held a meeting this week exploring blockchain technology and making decisions for its regulation within the country. China’s Blockchain Push Reported by local publication Sina News on May 13, the committee was headed by the bank’s...

China Set to Issue CBDC to Government Workers in Suzhou

April 16, 2020 by Anthonia Isichei at Regulation

China’s two-tier central bank digital currency, the digital currency/electronic payment (DC/EP) will be issued to workers in the city of Suzhou in May 2020. The employees will receive part of their upcoming transportation subsidies in DCEP. Employees to Receive China’s CBDC in May According to a report by a local...

Coronavirus Outbreak Causes Delay in China’s CBDC Project

February 26, 2020 by Anthonia Isichei at Blockchain

The coronavirus outbreak is said to hamper China’s plan to launch its central bank digital currency (CBDC) project before the end of Q1 2020. However, officials are reportedly forging ahead with the CBDC plan and are looking to run the pilot test before the end of the year. Coronavirus Affect...

China CBDC Libra Painting Red China Flag

China Advised to Slow Down Its Pace on National Digital Currency

January 28, 2020 by Anthonia Isichei at Regulation

With China reportedly speeding up the development of its national currency, the digital yuan, some researchers and government officials have called on the Chinese government to exercise caution. While Facebook’s Libra might be a threat, there are suggestions that the government should instead work with global regulatory bodies to regulate...

China Targets OTC Trading Channels as Crypto Clampdown Rages On

Chinese Regulators Reportedly Shut 173 Cryptocurrency Exchanges in the Country; Paves way for CBDC

November 25, 2019 by Aisshwarya Tiwari at Regulation

Twitter handle @cnLedger on November 25, 2019, quoted the People’s Bank of China’s (PBoC) newly released China Financial Stability Report 2019, where the apex bank stated that the Chinese regulators had clamped down on 173 cryptocurrency trading and token issuing platforms in the country. China Chokes the Crypto Ecosystem China’s...

PBoC Appears to be ‘Neutral’ Regading the Underlying Technology of its Digital Currency

November 11, 2019 by Edoardo Vecchio at Blockchain

After statements from Chinese President Xi Jinping regarding the possible developments of blockchain technology in the nation, a representative of the People Bank of China stated instead that the institution is neutral with respect to the underlying technology that will be used to develop the digital currency. The story was...

China’s Central Bank Promotes Blockchain Utility

November 7, 2019 by Ogwu Osaemezu Emmanuel at Blockchain

China’s central bank and financial regulator, the People's Bank of China (PBoC) has endorsed the revolutionary distributed ledger technology (DLT). The apex bank has made it clear that blockchain tech has real use cases in the financial sector, as it significantly reduces the risks involved in trade finance, reports Reuters...

China’s National Digital Currency is Anything but Decentralized says Ethereum Co-Founder

November 6, 2019 by Anthonia Isichei at Altcoins

China’s national digital currency is in the works, which would monitor transactions and curb money laundering. However, according to a recent interview with CNBC on November 5, 2019, Ethereum co-founder, Joseph Lubin, believes that China’s central bank digital currency (CBDC) lacks a key component of blockchain technology, which is decentralization. ...

Huawei Signs Strategic Agreement with Chinese Central Bank Digital Currency Research Arm

November 5, 2019 by Aisshwarya Tiwari at Blockchain

Per a November 4, 2019, statement from Huawei’s WeChat channel, the multinational telecom titan has signed a strategic cooperation agreement with the People’s Bank of China (PBoC) - China’s central bank. Huawei Making Its Presence Felt in the BlockSphere Huawei, a China-based telecom conglomerate that recently made its way to...

China: Financial Watchdog Receives Application Seeking Blockchain Exchange-Traded Fund

China Hatching Plans to Launch National Cryptocurrency, DCEP

October 28, 2019 by Ogwu Osaemezu Emmanuel at Altcoins

The People's Bank of China (PBoC) is making active plans to launch the nation’s Digital Currency Electronic Payment System (DCEP). The digital currency will first be tested with commercial banks, according to a tweet on October 28, 2019. China’s PBoC Set to Launch DCEP Despite placing a blanket ban on...

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