China Banning Crypto-Related Activity: Truth or Fake from Reuters?
Immediately after Reuters released the news about China banning crypto activity, many started criticizing the news agency for misleading its readers.
Immediately after Reuters released the news about China banning crypto activity, many started criticizing the news agency for misleading its readers.
Great news for cryptocurrency miners as they can now leverage China’s abundant supply of cheap and affordable hydroelectric power for Bitcoin mining activities.
China’s fintech stocks are starting to soar ahead of the expected launch if its CBDC. This is driven by the possibility that the digital currency will provide a need for security and payment services.
In some relief to the Libra Association, officials from 26 central banks will be quizzing Facebook on the scope, scale, and implementation of the Libra project.
Both Facebook and the People’s Bank of China, have announced their digital currencies and are looking to release them to the public as soon possible. What does this mean for financial inclusion and the global blockchain industry?
China’s proposed new digital currency would be better than Facebook’s Libra coin and would be able to be used across major payment platforms such as WeChat and Alipay, a senior central bank official said.
The Marshall Islands have decided to issue their cryptocurrency. Formerly, the pacific Nation had used the US Dollar solely as currency. This time, they have decided to issue their own based on its own blockchain.
People’s Bank of China is said to be preparing for issuing its own cryptocurrency in the coming days. According to sources, the first beneficiaries of China’s CB/DC are Alibaba, Tencent, Union Pay, and others.
According to the PBoC’s researcher, the introduction of a centralized digital currency will bring substantial changes to the future of the world’s financial industry.