#PBOC News

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...

China National Blockchain Network Goes Live April 2020

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...

Hands Opening a Wallet with Blockchain Strands Coming out

China: Digital Currency Experiments and Research to be Headed by Shenzhen

September 30, 2019 by Edoardo Vecchio at Altcoins

Shenzhen will be the testing grounds for China's fascinating digital currency ambitions, this according to a central government document. As reported by Beloit Bulletin, September 30, People's Bank of China (PBoC) plans to launch a significant research effort pertaining to the development of China's national digital currency and others with...

Bitcoin standing outside the Bank of China

China is Already a Digital Economy, so why Introduce a Central Bank Digital Currency?

September 11, 2019 by Ashwath Balakrishnan at Altcoins, News

China has been trending away from cash and toward digital payments for quite some time now. In 2018, 3.8 quadrillion yuan was remitted using plastic cards, cheques, electronic transfers, and other formal methods. According to Bloomberg, September 11, 2019, in the first quarter of 2019, payments apps like AliPay and...

China CBDC Libra Painting Red China Flag

China Confirms its CBDC is Similar to Facebooks Libra

September 7, 2019 by Ashwath Balakrishnan at Altcoins

China's upcoming digital currency is reportedly going to be very similar to Libra in terms of network design, but it will take a more holistic approach to find harmony between money-laundering prevention and anonymous payments. EJ Insight reports that the country initially set up a research team to launch a...

China’s Central Bank “Ready” to Launch National Digital Currency

August 12, 2019 by Anthonia Isichei at Finance

An official at China’s central bank recently revealed the central bank's readiness to launch the country’s central bank digital currency (CBDC) according to a report by Shanghai Securities News on August 10, 2019. The CBDC would be issued by the central and commercial banks. Centralized Digital Currency Could Launch Soon Following...

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