News
The forecast, which was published on Thursday, came amid renewed interest in stablecoins from several governments around the world.
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Yuan News
The yuan is the primary unit of the renminbi – the official name of the Chinese currency. Chinese currency itself is also often referred to as yuan. The term “Chinese yuan” is mostly used to refer to renminbi by international finance institutions. Yuan is issued by the People’s Bank of China, which has total control over the currency. Yuan is currently one of the most traded currencies due to internationalization of Chinese businesses and the expansion of Chinese exports. Chinese yuan circulates in Thailand, Pakistan, Mongolia and some other Asian countries. As the Chinese economy grows, the yuan gathers more and more influence on international markets. The price of the yuan had a crucial impact on the cryptocurrency industry as most exchanges were Bitcoin to yuan interactions, operated through China-based crypto exchanges. However, due to the large number of regulations, the Chinese yuan lost most of this impact on Bitcoin after 2017.
- Analysis
China’s split renminbi system suggests a rumored yuan stablecoin won’t mark a crypto shift.
1123 - News
China’s cabinet will review a roadmap that includes yuan-pegged stablecoins to bolster yuan internationalization, sources told Reuters.
13171 - News
JD.com and Ant Group are reportedly lobbying Chinese regulators to launch yuan-based stablecoins to boost the currency’s global role and counter US dollar-pegged tokens.
8799 - Markets News
Bitcoin may punish bulls if China raises the stakes in the ongoing trade war with the US, warns QCP Capital, as markets await a response to tariff hikes.
4080 - Price Analysis
Bitcoin price shows strength despite persistent weakness in global stock markets. Will altcoins follow?
5557 - News
A weaker yuan could mean a lot of Chinese capital flow into Bitcoin, according to Bybit’s Ben Zhou.
9040 - News
No need to download or pull up an app to pay with the Chinese CBDC on Huawei phones now.
7684 - News
The Chinese CBDC’s “controllable anonymity” seems to be very highly controlled.
9587 - News
While Hong Kong residents can sign up for a digital yuan wallet with a phone number, the CBDC is currently restricted to cross-border transactions and cannot be used for person-to-person transfers within Hong Kong.
6904 - News
Bitcoin has passed a new all-time high against the euro, breaking a value of 60,000 euros for the first time in history.
15103 - News
The app differs from the official version in subtle ways and steals users’ money and sensitive information.
21304 - Market Analysis
Bitcoin price continues to soften, but $251 million in inflows to the spot Bitcoin ETFs is a show of the markets’ strength.
15476 - News
China’s Belt & Road Initiative partners will get a cushy trade hub with lots of chances to use its CBDC under a Party development plan.
3843 - News
The transaction was facilitated by the Shanghai Financial Exchange International Board.
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