US lawmakers, led by Senator Mike Lee, propose the No CBDC Act to prevent a government-controlled digital dollar, fearing it could lead to financial surveillance and forced spending.
Guangzhou is pushing the digital yuan into everyday life, from metro rides to international trade, with new pilot zones planned by 2025. It's all about making digital currency a part of daily transactions.
Big crypto shifts in Asia by 2025: Trump targets digital yuan, Korean institutions avoid crypto. Stay tuned!
China's digital yuan, introduced in 2019, struggles with adoption due to user skepticism and competition from established mobile payment services.
China's digital yuan is struggling with corruption scandals and slow adoption, hindered by established online payment platforms like Alipay and Wechat Pay. The corruption scandal involving Yao Qian, a key figure in the e-CNY's development, further complicates its implementation.
Huawei integrates digital yuan into its HarmonyOS NEXT, potentially reaching a billion users.
Huawei has integrated the digital yuan into its HarmonyOS NEXT, enabling up to 1 billion users to make payments without a separate app.
China is exploring the digital yuan as a potential counter to the US dollar's dominance. Amid calls from Russia to develop a new global financial system independent of the dollar, China's digital currency could play a key role in achieving this vision.
China's digital yuan surpasses $1 trillion in transactions in 2024, showcasing its growing adoption and potential impact on international trade.
China's digital yuan surpasses $1 trillion in transactions, outperforming USDC and USDT.
China's Digital Yuan surpasses $1 trillion in transactions, eclipsing USDC and USDT with over a decade of development and extensive pilot testing.
China's digital yuan nears $1 trillion in transactions, as PBOC official announces progress in trials across 17 areas.
The rise of national digital currencies like the Digital Ruble and Digital Yuan offers a transformative alternative to fiat money in cross-border trade, particularly between Russia and China.
Chinese banks will enhance digital yuan security to combat money laundering and identity theft schemes with new protocols.
Tencent tests the use of digital yuan and Mbridge for e-commerce export settlements. The Chinese company participated through Tenpay, its international settlements arm, using Mbridge's CBDC-enabled cross-border settlement platform.
A Chinese court has sentenced a gang involved in money laundering using digital yuan, highlighting the high level of control in China's CBDC system.
The digital yuan app has removed the 'pilot' label from its name, stirring speculation about its readiness for production. Local news attributed the change to app requirements, hinting at a potential step toward broader implementation of China's CBDC.
Industrial Bank in China encourages digital yuan usage by rewarding transactions with carbon credits, supporting China's aim for carbon neutrality by 2060.
Industrial Bank in China will reward digital yuan customers with carbon points to encourage CBDC adoption.
The U.S. House passes a bill preventing the Federal Reserve from issuing a CBDC without Congressional approval, aiming to protect U.S. privacy against surveillance like that associated with China's Digital Yuan.
Hong Kong residents can now open personal digital yuan (e-CNY) wallets, a Hong Kong Monetary Authority initiative in collaboration with the People's Bank of China, promoting cross-border digital currency use.
The Hong Kong Monetary Authority, in collaboration with the People’s Bank of China, announced that Hong Kong residents can now create e-CNY wallets for digital yuan transactions, marking a significant step in cross-border payment facilitation.
Hong Kong extends pilot program for e-CNY, China's digital yuan, under the leadership of HKMA and PBOC, boosting the cryptocurrency's adoption scope.
Hong Kong launches a pilot program for China's digital yuan (e-CNY), its first application outside the mainland, for improving cross-border transactions and financial integration.
Hong Kong residents can now open personal digital wallets for e-CNY, China's digital currency, to enable cross-border payments.
Hong Kong has initiated a pilot program allowing residents to use China's Central Bank Digital Currency, the digital yuan, signifying a major step in the integration of the CBDC.
Hong Kong starts a pilot program to facilitate digital yuan payments through major Chinese banks, bolstering China's digital currency global outreach by enabling residents to transact directly with mainland China merchants.
The Hong Kong Monetary Authority and the People’s Bank of China have expanded the digital yuan pilot. Hong Kong residents can set up and top up e-CNY wallets, linking to the Faster Payment System for the first time.
Hong Kong has started a pilot program for the digital yuan, enabling transactions via 17 banks with the FPS system.
Hong Kong is broadening its trial with China's digital yuan, permitting residents to establish e-CNY wallets and use them for retail payments.
Hong Kong's digital yuan, e-CNY, allows wallet creation with a phone number but is limited to cross-border transactions, lacking person-to-person transfer capabilities within Hong Kong.
SWIFT China's Wen Yang talks about the technical and regulatory challenges in achieving CBDC interoperability internationally, emphasizing the need for a unified tech and regulatory solution, with a focus on the digital Yuan.
