China’s Giant Ride-Hailing Service Didi to Pilot the Central Bank’s Digital Yuan

The Chinese government and the country’s central bank, the People’s Bank of China (PBoC), are currently in the midst of testing a digital yuan or central bank digital currency (CBDC). Now the Chinese ride-hailing corporation Didi Chuxing will be trialing the newly developed digital yuan in a “strategic partnership.” Whether people want to believe it […]

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China Is Drafting Laws for the Circulation of National Digital Currency

China Is Drafting Laws for the Circulation of National Digital CurrencyAmid the coronavirus pandemic, China’s central bank has reportedly completed the basic development of the nation’s central bank digital currency. The central bank is now drafting legislation for its circulation, according to local media. A number of patents have revealed what the digital yuan will be like. Also read: 2x Bitcoin — Wanna Double Your […]

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Disney World Economics: How Coronavirus Could Be Used to Justify a Global Financial Reset

Disney World Economics: How Coronavirus Could Be Used to Justify a Global Financial Reset‘What in the world is going on’ has now become a question of real pertinence, instead of just a cliché for common bewilderment. As COVID-19 panic grips the world, ripple effects are crashing markets and effectively canceling economies across the globe, scrawling the writing on the wall for something big. Even the beloved Walt Disney […]

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Rumors of Bitcoin’s Death Are Greatly Exaggerated

Rumors of Bitcoin’s Death Are Greatly ExaggeratedAccording to the Bitcoin Obituary Page, Bitcoin died 379 times between 2010-2019 of an astonishing array of causes. The number is undoubtedly understated since it is based on a limited sample of obituaries. Despite the glee with which the corpses of Bitcoin are contemplated, however, cryptocurrency thrives because it continues to fill the human need […]

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Fed Chair Powell Reveals US Response to China’s Digital Yuan, Libra, Public Payments Ledger

Fed Chair Jerome Powell Reveals US Response to Digital Yuan, Libra, Public Payments LedgerIn his testimony before the House Financial Services Committee, Federal Reserve Chairman Jerome Powell answered a number of questions regarding digital currencies. While stating that “a ledger where you know everybody’s payments” is not a problem in China, he believes it is not attractive for the U.S. Admitting that Facebook’s Libra project was a wake-up […]

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Facebook, China Light Flame Under Fed: Governor Cites Stablecoins Influencing Digital Dollar Research

Facebook, China Light Flame Under Fed: Governor Cites Stablecoins Influencing Digital Dollar ResearchAt the recent Symposium for Future Payments held in Stanford, California on February 5, Federal Reserve Governor Lael Brainard stressed the importance of remaining “on the frontier of research and policy development regarding CBDC.” The position seems a contrast to the narrative in 2018 when Brainard maintained “there is no compelling demonstrated need for a […]

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China Takes Another Step Away From USD Hegemony

China Takes Another Step Away From USD HegemonyThe China Foreign Exchange Trade System (CFETS) announced that effective January 1, 2020, the system “will adjust weights for CFETS RMB Index,” decreasing the weighting of the USD for the second time in the currency basket’s history from 22.40% to 21.59%, and increasing the Euro from 16.34% to 17.40%. The change could signal further disassociation […]

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Lagarde Sees Demand for Stablecoins, Plans to Put ECB ‘Ahead of the Curve’

Lagarde Sees Demand for Stablecoins, Plans to Put ECB 'Ahead of the Curve'At her first press conference as head of the European Central Bank (ECB), Christine Lagarde outlined her plans to lead the ECB “ahead of the curve” in the field of digital currency. “There is clearly a demand out there that we have to respond to,” she said, referring to stablecoins. Also read: Regulatory Roundup – […]

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Regulatory Roundup: Bitcoin Futures Fund Approved, India’s RBI-Backed Digital Currency

Regulatory Roundup: Bitcoin Futures Fund Approved, India's RBI-Backed Digital CurrencyIn this regulatory roundup, we cover the U.S. SEC approving a bitcoin futures fund, the new IRS tax form targeting crypto owners, and several more steps taken by the U.S. government toward crypto regulation. We also cover India’s central bank digital currency plan, South Korea’s crypto taxation plan, and the European Commission’s announcement regarding stablecoins. […]

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