PBOC News

Huang Yiping has expressed concerns about China missing out on financial development opportunities following the nation's ban on cryptocurrencies. 

According Xie Ping, to a former official of the People's Bank of China (PBoC), the Digital Yuan is underused by the Chinese.

According to a top central bank official, China will extend the reach of its ongoing digital renminbi trials to include the entirety of several of its most populous and advanced regions by the end of the year. e-CNY Set To…

Investment in the fintech sector in the Asia-Pacific region more than quadrupled to a record USD41.8 billion during the first half of 2022 according to a KPMG report.

On September 1, 2022, the 2022 China International Fair for Trade in Services took place alongside the 2022 China International Finance Annual Forum. At the conference, Changchun Mu, the head of the People’s Bank of China’s (PBOC) Digital Currency Institute,…

China has announced a fresh crackdown on cryptocurrencies. The People’s Bank of China is targeting transactions. It has declared them illegal as well as crypto-related businesses. Financial institutions too cannot provide services related to crypto, according to the announcement. The…

The crackdown on cryptocurrencies appears to be gaining steam in China. Local reports state that the Shenzhen branch of the People’s Bank of China (PBOC) has cleansed 11 companies for their illegal cryptocurrency activities.  Major Crackdown by Chinese Authorities Chinese…

The Chinese central bank vows to keep high regulatory pressure on crypto trading in the country. PBoC to Continue Monitoring Crypto Trading The People’s Bank of China recently published the key takeaways of a meeting where the regulators discussed at…

As part of China’s efforts to expand the scope of its upcoming central bank digital currency (CBDC) project, the city of Shenzhen has issued the country’s first digital yuan insurance policy.  Insurance Policy with Digital Yuan In a report by…

The People’s Bank of China (PBOC), China’s central bank, has published a white paper on its upcoming central bank digital currency (CBDC), otherwise known as the digital yuan or e-CNY.  Notably, the document revealed that the project utilizes smart contract…

Reiterating their stance on privately-issued cryptocurrencies, the Business Administration Department of the PBoC—China’s central bank, has “rectified” Beijing Tongdao Cultural Development Co. Ltd, as per sources on July 6. Beijing-based Software Provider Banned The software provider is suspected of offering…

A former official of the People’s Bank of China (PBOC) argued that contrary to opinions about China’s central bank digital currency (CBDC), the digital yuan was not developed for monitoring purposes.  Digital Yuan Not For Tracking Citizens’ Payments  According to…

The Hong Kong Monetary Authority (HKMA) and the Digital Currency Institute of the People’s Bank of China (PBOC), are looking to expand the testing of China’s central bank digital currency (CBDC) for cross-border payments.  Hong Kong and China Preparing for…

A top executive of the People’s Bank of China (PBOC) revealed that it was planning to test its proposed digital yuan with foreigners at the upcoming 2022 Winter Olympics in Beijing.  International Trial for Digital Yuan According to CNBC on…

China’s central bank, the People’s Bank of China (PBOC) has stated there is increased interest in its upcoming central bank digital currency (CBDC) project, and this could be partly due to the recent surge in bitcoin price.  Bitcoin Possibly Responsible…

An official of the People’s Bank of China (PBOC) stated that China’s central bank digital currency (CBDC) would act as a backup for major players in the mobile payment sector like Alibaba’s Alipay and Tencent’s WeChat Pay. Digital Yuan to…