After Xi, China’s Central Bank Gives Blockchain Tech a Pump
The People's Bank has said blockchain is a solution to trade finance asymmetries in the latest promotion of the tech in China.
Tencent, the Chinese internet giant and owner of WeChat, is reportedly forming a team to explore possible new use cases for cryptocurrencies.
China's securities watchdog is reported to be hiring Yao Qian, the former head of the central bank's digital currency initiative, as the chief of its new tech regulation bureau.
A new paper from the PBoC says the “top-level” design of its digital currency is complete while AMLD5 in Europe is causing crypto companies to flee.
The People's Bank of China is said to be preparing to launch pilots for its digital currency in Shenzhen and Suzhou from the end of the year.
Former PBoC head Xiaochuan Zhou says the digital yuan will enable retail payments first, but might need a different technical design for cross-border payments.