In its latest effort to crack down on crypto trading activities, the central bank ordered attending banks to cut off any funding channels for crypto OTC merchants if found. The People’s Bank of China issued a statement on Monday, saying that it has recently summoned a meeting with several domestic banks and mobile payment service providers. China […]

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The central bank of China has told domestic banks to cut off the funding channels of crypto over-the-counter merchants.

The post PBoC orders Chinese banks to cut off accounts for crypto OTC merchants — reiterating 2017 banking ban appeared first on The Block.

The Industrial and Commercial Bank of China (ICBC), has now made it possible for Chinese residents to easily exchange their DCEP, the nation’s digital renminbi for fiat yuan and vice versa, at thousands of automated teller machine (ATM) locations in the country, according to a report on June 18, 2021. ICBC Introduces Digital Yuan-Cash ConversionRead More

Chinese citizens can now convert the Digital Yuan into Cash through the Industrial and Commercial Bank of China (ICBC), which has become the first bank in China to allow such transactions. The state-owned bank launched a feature on Friday 18, in partnership with the Agricultural Bank of China that will allow users to withdraw their […]

China has expanded its digital currency experiment with a roll-out of digital yuan conversion feature at more than 3,000 ATMs in Beijing.

Two banks in China have begun offering cash exchange services for the digital renminbi, according to reports from local media.Sponsored Sponsored Local media...

The feature comes months after a small-scale test in Beijing and is yet another sign China is widening its e-CNY tests towards a full launch.

The post Chinese banks roll out 3,000 ATMs that can convert digital yuan to cash appeared first on The Block.

In a move to test its state-owned CBDC dubbed e-CNY, China has given away digital red envelopes embodying its prototype CBDC in Beijing and Shanghai to test the digital yuan (e-CNY). Reportedly, the Winter Olympics (WO) vendors will also allow e-CNY for payments.

Beijing residents should apply to participate in the lottery until midnight on June 7.

@hughharsonoHugh Harsono Hugh writes about cyberspace, digital currencies, economics, foreign affairs, and technology. The digital yuan’s proposed impact on domestic Chinese and international...

Decentralized technologies including blockchain, artificial intelligence (AI), internet of things (IoT) are getting more and more popular. They bring lots of profits for businesses. That is why 8 of the top 10 largest publicly traded companies in the world are dealing with blockchain technology.

French private equity group Astorg has teamed with London-based Bridgepoint to pick up fintech company Fenergo from Insight Partners. The firms said the...