The People’s Bank of China through the use of its proposed Digital Currency Electronic Payment DCEP system aims to tackle the dominance of WeChat Pay and Alipay in the nation’s digital payment ecosystem. The news was reported days after the People’s Bank of China urged the nation’s top antitrust agency to probe the dominance of the two …
Alipay and WeChat Pay Could Be Casualties of China’s Digital Yuan Read More »
Former Chinese banker, Wang Yongli suggested that a push for digital currencies to substitute all currencies is needed to support monetary operation reforms. Wang, the Director of Haixia blockchain research institute and former vice president of Bank of China said that China’s central bank digital currency (CBDC), also known as its digital currency electronic payment (DCEP) should …
China has not always been friendly towards cryptocurrencies, however, the country has not completely banned Bitcoin, according to the Beijing Arbitration Commission. In 2017, China completely banned Bitcoin exchanges in the country but this did not stop initial coin offerings and virtual currency trading. Without Bitcoin exchanges operating in China, traders turned to foreign exchanges to conduct cryptocurrency transactions. Binance, …
Tencent to build a blockchain-based wine traceability platform for China’s oldest wine producer. Chinese tech giant Tencent has revealed its plan for creating a blockchain-based wine traceability platform in collaboration with Changyu, China’s biggest and oldest wine producer, according to local news on July 31. It is said to be a nationwide first for the country’s domestic …
Tencent Builds Blockchain Platform for China’s Oldest Wine Producer Read More »
The European Union and China recently had trade and economic discussions regarding topics including central bank digital currencies (CBDC) and supply chain. During the video conference, according to the Ministry of Commerce of China, the two parties discussed the strategic cooperation of the steady recovery and growth of the global economy post-pandemic. According to the …
The Bank of Japan is reportedly expediting the development of its Central Bank Digital Currency (CBDC). A top official of the Asian giant’s apex bank Takeshi Kimura confirmed this while speaking to Japanese news outlet The Asahi Shimbun. Takeshi said that the bank will begin substantive testing of its CBDC as pressure mounts following the fear of …
Bank of Japan Now Considers its CBDC Project a Top Priority Read More »
The Tel Aviv Stock Exchange (TASE) has announced it will be launching a blockchain-based platform that will enhance digital securities transactions and sharing. TASE, the only stock exchange in Israel said that it began testing the blockchain-based solution in March and it is on course to be officially launched in November. The blockchain platform is a centralized …
Tel Aviv Stock Exchange To Launch Blockchain Based Securities Lending Platform Read More »
The Malaysian Securities Commission (SC) has announced that it plans to extend additional regulations to cover both old and new wallet providers in the country. The new regulation will be infused into the existing regulations governing cryptocurrencies related activities in Malaysia. The new regulations are expedient owing to the important role of cryptocurrency wallet providers in safeguarding …
Malaysian Authorities to Extend Crypto Regulations to Wallet Providers Read More »
Shortly after Mastercard showed its hand on its stance on cryptocurrency, Visa published a blog announcing that the payments giant is advancing its approach towards digital currency. PayPal was recently rumored to have partnered with Paxos to provide crypto trading services. Visa described three values that will evolve its digital currency strategy, including the maintenance of robust …
Visa Joins Mastercard and PayPal in Turning Bullish for Crypto and Digital Currencies Read More »
The office of the U.S. Treasury that handles banks has issued a determination on the long-debated subject of custodying crypto assets Per a July 22 announcement shared with Cointelegraph, the Office of the Comptroller of the Currency (OCC) is granting permission to federally chartered banks to custody cryptocurrency. The future of banking with crypto on …
US Banking Regulator Greenlights Crypto Custody at Federally Chartered Banks Read More »
