Digital Yuan to Fuel China’s Economic Reign – McDonald’s, Starbucks, Subway Test PBoC’s Cryptocurrency

Digital Yuan to Fuel China’s Economic Reign - McDonald’s, Starbucks, Subway Test PBoC’s CryptocurrencyChina’s economy is the second-largest in the world and economists believe the country may someday bring a new global order and end the Western hemisphere’s financial rule. In 2020, various reports show that China’s central bank will soon release a cryptocurrency that represents a digital yuan. This week, regional reports show that 19 well known […]

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Deutsche Bank Envisions Post Covid-19 Economy Accelerating Digital Payments

Deutsche Bank Envisions Post Covid-19 Economy Accelerating Digital PaymentsSince the covid-19 outbreak wreaked havoc across the world’s economies, the global multinational investment bank Deutsche Bank has been encouraging the use of digital currencies. The firm’s Twitter account and macro strategist Marion Laboure have been tweeting regularly about how coronavirus infection risks could “accelerate digital payment systems across the world.” Also read: 5% Over […]

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10 Countries Actively Regulating Cryptocurrency Despite Global Crisis

10 Countries Actively Regulating Cryptocurrency Despite Global CrisisDespite the coronavirus pandemic and the resulting financial crisis, at least 10 countries have made announcements regarding cryptocurrency regulation since our last regulatory roundup. They include Japan, Malaysia, Singapore, China, Spain, Germany, India, the Philippines, the U.S., and South Korea. Also read: IMF Declares Global Recession, 80 Countries Request Help, Trillions of Dollars Needed Regulations […]

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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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China Adopts Security Standards for Blockchain Applications in the Financial Sector

China Adopts Security Standards for Blockchain Applications in the Financial SectorKeeping the focus on blockchain development, banking authorities in China have issued a set of rules pertaining to the secure application of crypto-related technologies in the financial sphere. The new standards, the first of this kind, are to guide the work of developers and service providers operating in the industry. Also read: China Issues Digital […]

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Central Bank of China Pumps 300 Billion Yuan Into Financial System, Cuts Loan Rates

Central Bank of China Pumps 300 Billion Yuan Into Financial System, Cuts Loan RatesThe Chinese government has taken multiple steps so far to contain the economic fallout from the coronavirus epidemic, including interest rate cuts and financial injections worth billions of yuan. It did it again this week, extending the monetary easing provided by the central bank. With the budget under pressure, however, there are indications that Beijing […]

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