Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in yuan, people familiar with the matter said, a move that would dent the U.S. dollar’s dominance of the global pet...
Tag: Yuan
Yuan Jumps After Report on Saudis Weighing Its Use in Oil Deals
(Bloomberg) — The Chinese yuan reversed earlier declines following a report by Dow Jones that Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in the currency...
Here’s why the yuan retreated after strong China economic data
The USD/CNY soared to the highest level since January 2022 as investors reacted to the strong economic data from China. It is trading at 6.3783, which is about 1.20% above the lowest level this year. ...
Omnibus Bill: The House to Focus on Provisions on Ransomware and Chinese Yuan
An Omnibus Bill passed the House of Representatives and is directed towards the Senate. The Bill consists of provisions on China’s Central Bank Digital Currency and requirements regarding ransom...
China Doubles Yuan Trading Band for Ruble After Record Move
(Bloomberg) — China will double the yuan trading band for the ruble amid signs of distressed liquidity as banks back away from making markets. Most Read from Bloomberg The currency pair will be ...
China’s Digital Yuan Targeted in New Bill From 9 GOP Senators
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set ...
$1.5 trillion omnibus bill leaves the House with provisions targeting ransomware and China’s digital yuan
advertisement A long-delayed appropriations bill for 2022 has passed in the House of Representatives and is heading for the Senate as of March 9. Included in the bill’s 2,741 pages of legislatio...
New Senate bill sounds the alarm on China’s digital yuan
advertisement A new bill in the US Senate takes aim at China’s new central bank digital currency (CBDC). On March 9, Senators Bill Cassidy (R-LA) and Marsha Blackburn (R-TN) introduced the ̶...
Chinese officials take down crypto mine worth 5 million yuan
China’s approach towards “free cryptocurrencies” has been evident through its many actions. For example, even though the country holds more than 10% of all Bitcoin transactions, they also banned crypt...
China to Widen Test of Digital Yuan as Russia Invasion Spotlights Crypto’s Potential Role; Cryptos Decline
India, the world’s largest democracy, may make its tax policy clearer by tweaking the definition of crypto or virtual digital assets. According to a report by CNBC TV-18, the Indian government is like...
Yuan steady after strong China manufacturing PMI data
The USD/CNY price had a difficult January as the Chinese yuan continued its comeback against the US dollar. The index dropped to a multi-month low of 6.3023, which was about 1.12% below the highest le...
With sanctions at the fore, will Russia adopt the digital yuan? Well, it might…
You may know the ‘Society for Worldwide Interbank Financial Telecommunication’ as SWIFT – a cross-border payment system that makes it possible for users worldwide to shop, transfer money, pay fees, an...
Digital Yuan Takes the Podium at Beijing’s 2022 Olympic Games
While the Olympic Games are the world’s premier showcase for athletes to display their skills, a star of an entirely different kind is also grabbing the spotlight in Beijing – the e-CNY, or electronic...
Over $300,000 Worth of Digital Yuan Used Daily at the Olympics (Report)
Everyday transactions with China’s digital currency during the Beijing Olympic Games account for around 2 million yuan (approximately $315,000), a top official at the nation’s central bank said. He fu...
PBOC Reveals Central Bank Digital Currency Usage at Beijing Winter Olympics — 2 Million Digital Yuan per Day – Bitcoin News
The People’s Bank of China (PBOC), the Chinese central bank, has revealed how its central bank digital currency (CBDC) is being used at the Beijing Winter Olympics. A top PBOC official says, “It seems...
Here’s how much digital yuan used at Olympics, according to PBoC
The 2022 Winter Olympics participants, visitors and organizers could be spending more than $300,000 in China’s digital yuan every day, according to new reports citing officials from the People’s Bank ...
Digital Yuan Impact Negligible, Says PBOC Official
The impact of the digital yuan on the financial sector has been negligible so far, according to an official from the People’s Bank of China. The total balance in digital yuan amounts to only 470 milli...
Digital Yuan Transactions Overtakes Visa during Beijing Winter Olympics
At the opening ceremony of the 2022 Winter Olympics in Beijing, the number of transactions using the digital yuan greatly exceeded Visa, according to a Wall Street Journal reported on Wednesday. At th...
Digital yuan transactions beat out Visa at Winter Olympics venue: report
On the day of the opening ceremony of the Beijing 2022 Winter Olympics, there were reportedly more transactions made in China’s central bank digital currency than those through Visa. In a Wednesday re...
China’s digital yuan enthral users at Beijing Winter Olympics
TL;DR Breakdown China1s-Beijing Olympic Games will be the first time for international users to utilize a national government-backed virtual currency. e-CNY encourages mass adoption, lowers entry barr...
China’s Winter Olympic Digital Yuan Is Not Attracting The Locals And Foreigners
China debuted its homegrown digital yuan at the 2022 Beijing Winter Olympics on Friday last week, in an effort to assert its competency in the international community. However, it appears that some l...
Winter Olympics witnesses digital yuan amid warnings
Digital yuan is the Chinese central bank digital currency project. When several countries were exploring to issue their own national digital currency, China took the lead and introduced its CBDC. Howe...
West Remains Skeptical of Digital Yuan Ahead of Use in Olympics
Prospective users and commentators from the West remain skeptical of China’s rollout of the digital yuan during the ongoing Winter Olympics in Beijing. Data privacy remains the primary concern for mos...
U.S. Should Examine Chinese Digital Yuan Rollout during Winter Olympics: Senator Toomey
Senator Pat Toomey, a senior member of the U.S. Senate Banking Committee, requested the U.S. administration to closely examine the Chinese digital yuan’s rollout during Beijing Winter Olympics. ...
At Winter Olympics, China Showcases The World It’s Own Cryptocurrency, Digital Yuan
China is pulling all plugs to make its CBDC digital Yuan popular. The e-CNY is one of the three forms of payment that foreign athletes and dignitaries can use at the Enter Olympics Games. The e-CNY is...
US lawmakers issue warnings about digital yuan as Winter Olympics kicks off
With the opening ceremony of the Beijing 2022 Winter Olympics completed and all competing athletes currently in China, two members of Congress are warning of the potential dangers of using digital yua...
Senator sounds the alarm on international rollout of digital yuan during Beijing Olympics
advertisement One senator is calling on US President Joe Biden’s cabinet to watch out for China’s digital yuan, which is seeing its first international usage during the Winter Olympics in ...
COVID restrictions stymie digital yuan rollout at Beijing Winter Olympics: Report
Though athletes and support staff arriving for the Beijing 2022 Olympics still have the option of using digital currency for payments at many venues, the international test run of China’s CBDC is repo...
Digital Yuan witnessed huge increase last year to $11.24 Billion
There was a surge in the digital currency Yuan in the previous year. Four airdrops took place last year, three of which were focused on distribution of digital Yuan for public transportation in the f...
China’s Central Bank Digital Currency Now Has 261 Million Users — $14 Billion in Digital Yuan Transactions Made – Regulation Bitcoin News
China’s central bank digital currency now has 261 million unique users, according to an official of the central bank, the People’s Bank of China (PBOC). Furthermore, transactions worth 87.5 billion yu...