China’s Central Bank Cuts Down 1-Year Rates amidst Economic Headwinds
Market observers had also anticipated an adjustment in the five-year loan prime rate, influencing the country’s mortgage landscape.
The People’s Bank of China emphasized that bitcoin is not a currency and can’t circulate in the market as a real currency.
Market observers had also anticipated an adjustment in the five-year loan prime rate, influencing the country’s mortgage landscape.
The Chinese call these measures “rectification” meaning that authorities are bringing these companies in line with regulation.
The last Sunday afternoon, some people began reporting that a Chinese state-owned newspaper Xinhua features Bitcoin on its first page.
Facebook’s Libra is facing many regulatory challenges that have made institutional backers like MasterCard, Stripe, PayPal, and Visa lead several other potential partners in casting their doubts about the project.
A devoted team of the PBOC’s Digital Currency Research Lab is currently setting up its digital currency system in a restricted environment aiming to launch it before Facebook’s Libra enters the market.
China may be about to launch a fiat digital currency, but in all likelihood, PBoC’s currency will only resemble crypto on the surface. It probably won’t use blockchain technology.
A senior official of China’s central bank announced at the China Finance 40 Group meeting that the country will soon roll out its central bank digital currency (CBDC).
China’s central bank unveiled plans to more closely inspect operations of digital currency exchanges in an effort to curb the yuan’s outflow.
The Chinese government seriously intends to keep its money at home.
The People’s Bank of China emphasized that bitcoin is not a currency and can’t circulate in the market as a real currency.