PBOC

At Least 19 Central Banks Give Way to Monetary Easing As Economy Slows

<header class=”article__header”> </header> <strong>In a coordinated fashion, more than 18 central banks worldwide have or plan to cut interest rates, sparking a domino effect of monetary easing. It’s been 10 years since the world has seen central planners orchestrate such harmonization in an attempt to save the economy from a deep recession.</strong> Also Read: Money …

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Crypto Facilitates Money Transfer for Restricted China

</header> <strong>Crypto is not illegal in China, but it is illegal for banks and financial institutions to deal in crypto. It’s also illegal to send or receive over $50,000 in fiat money without government permission. Restrictive banking regulations, international trade wars, and a surveillance state in the midst of political unrest mean that transferring money …

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New Head of China’s Digital Currency Says It Beats Facebook Libra on Tech Features

The Chinese central bank has a new digital currency chief who says its upcoming digital yuan has features not offered by Facebook Libra. Changchun Mu – previously deputy director of the payments and settlement division at the People’s Bank of China (PBoC) – recently stepped into the lead role at the Digital Currency Research Institute, reports Shanghai Securities …

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Tether Plans to Mint Digital Yuan and Commodity Coins, Says Bitfinex Shareholder

<header class=”article__header”> </header> <strong>Tether Holdings, the firm that issues tether (<a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/USDT” target=”_blank” rel=”noopener noreferrer”>USDT</a>), has plans to launch an offshore Chinese yuan stablecoin called CNHT. Tether’s digital dollar presence within the crypto economy has been massive in recent months, seeing significant demand from China. Bitfinex shareholder Zhao Dong has explained in a recent …

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The Push to Kill Cash – Australia’s Proposed Ban Shows It’s Not Conspiracy Theory

</header> <strong>The supposed coordination of governments and tech companies to create a one-world, cashless society is often viewed as little more than fodder for silly Youtube conspiracy videos. After all, cash is still king in daily life, even in extremely high-tech, innovative societies like Japan. Upon closer examination, though, current realities like Australia’s proposed cash …

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China’s Digital Fiat Wants to Compete With Bitcoin – But It’s Not a Crypto

The Takeaway: A review of over 50 patent applications submitted by the People’s Bank of China shows the design of its central bank digital currency will only resemble a cryptocurrency in limited ways. A senior official at the central bank said the effort will be helpful to “restrain public’s demands for crypto assets and to …

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Currency War Erupts as US and China Bring Out the Big Guns

<header class=”article__header”> </header> <strong>What started out as a trade dispute between the world’s two largest economies is now a full-blown currency war as the U.S. and China bring their big guns to the battlefield. The impact on the global financial markets was immediate and severe, driving up safe-haven assets as ordinary people fear losing the …

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Liquidity Difficulties in China: Second Bank Bail-Out Now Reality

</header> <strong>Although it has its peculiarities, the Chinese banking sector now faces similar challenges to the west’s financial system. Dozens of small banks have been experiencing liquidity difficulties in the past few months. Observers believe the expanding problem has the potential to trigger a financial crisis</strong><strong> that could grow into a new global meltdown. Chinese …

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China Should Prepare Digital Yuan to Counter Facebook Libra: Ex-PBoC Chief

Faced with the possibilities and threat posed by Facebook’s Libra cryptocurrency project, China’s central bank should rethink its plan for a national digital currency, according to its former head. As reported by the South China Morning Post, former People’s Bank of China (PBoC) governor Zhou Xiaochuan said at an event in Beijing this week that, with …

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Facebook Libra Threat Could Spur Work on China’s National Digital Currency: PBoC Official

With Facebook’s Libra cryptocurrency potentially posing a threat to traditional money on various fronts, China’s central bank could hasten development of its own digital cash, according to a People’s Bank of China (PBoC) official. Speaking at an event at Peking University’s Institute of Digital Finance earlier on Monday, Wang Xin, head of the research bureau at the …

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