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pboc


The Digital Currency Research Lab of the People’s Bank of China (PBoC) is further expanding its ongoing research efforts to several cities outside of Beijing to encourage deployment of fintech, including blockchain, in real-life projects. According to a report on Wednesday from local financial news source Securities Times, the lab has launched a fintech center in Nanjing, …

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A blockchain trade finance platform spearheaded by China’s central bank has entered the testing phase ahead of an official roll-out. According to a report from 21st Century Business Herald on Tuesday, the first phase of the so-called Bay Area Trade Finance Blockchain Platform is already deployed across financial institutions in the southern city of Shenzhen and is …

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Regulatory agencies in China have jointly issued a warning against illegal fundraising and trading activities involving cryptocurrencies. The warning was issued on Friday by five high-level watchdogs: the People’s Bank of China, the Banking Regulatory Commission, the Ministry of Public Security, the Central Cyberspace Affairs Commission, and the State Administration for Market Regulation. It notably …

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A vice governor of the People’s Bank of China (PBoC) has again issued strong statements against initial coin offerings (ICOs), singling out those that have moved overseas, but are still marketed to investors in China. Speaking at an internal meeting of the Internet Finance Rectification Working Group on Monday, Pan Gongsheng reiterated that ICOs, “disguised” …

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The Digital Currency Research Lab at the People’s Bank of China has filed more than 40 patent applications so far – all as part of an aim to create a digital currency combining the core features of cryptocurrency and the existing monetary system. Data from China’s State Intellectual Property Office (SIPO) revealed two new patent …

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Yao Qian is the director-general of the Institute of Digital Money of the People’s Bank of China. This article represents his personal academic opinions and does not represent the opinions of the institution. Bookkeeping refers to the recording of economic data in account books. A ledger, therefore, is a book with a certain format based …

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China’s central bank has finished work on a blockchain-based system that digitizes checks issued by domestic businesses, according to a senior official. In an op-ed published by a local news source on Tuesday, Di Gang, deputy head of the digital currency research lab at the People’s Bank of China, said the department has “completed the infrastructure of …

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Giving up absolute decentralization could solve many of the problems facing blockchain technology, according to Yao Qian, the People’s Bank of China’s digital currency research lead. In an opinion article, published by Chinese business news site Yicai on Friday, Yao summarized the current state of development of bitcoin and blockchain technology and offered his view on how …

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China’s central bank has said cryptocurrencies will be one of its top priorities this year, in an effort to protect the national currency. According to an announcement Thursday, People’s Bank of China (PBoC) has outlined its agenda for the coming year during a conference call focused on monetary development. While Fan Yifei, the vice governor …

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China is still in the process of developing a state digital currency, the chief of a government-funded blockchain research center has said. According to a report by Shanghai Securities News Thursday, Zhang Yifeng, head of the China Banknote Blockchain Research Center, said the research and development of a digital fiat currency is on-going in China, adding …

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The development of a central bank-backed digital currency is “inevitable,” says the People’s Bank of China’s chairman, Zhou Xiaochuan. However, it’s not certain whether this digital currency will take the form of a cryptocurrency or whether some other technological innovation will form the basis of this currency, he said in remarks during a press conference …

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The founder of one of the largest cryptocurrency businesses in China appears willing to work more closely with the government. In comments that first emerged in an all-staff messaging group on WeChat, Star Xu, the founder of exchange services provider OKCoin discussed a press conference on Friday in which the governor of People’s Bank of China …

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The governor of China’s central bank struck a critical tone on cryptocurrency speculation during a media appearance on Friday. Speaking at a press conference amid the Two Sessions, China’s annual political event, People’s Bank of China (PBoC) governor Zhou Xiaochuan took aim at cryptocurrency projects that have shifted away from their purported use cases in favor …

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A central bank-issued digital currency (CBDC) released by the People’s Bank of China should incorporate elements of cryptocurrencies, according to Yao Qian, who spearheads the central bank’s research in this area. In his latest opinion piece, published by China business media outlet Yicai on Tuesday, Yao – who is director of the central bank’s Digital Currency …

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It began like this: officials from the People’s Bank of China stepped into the offices of the largest crypto exchanges in the country, and sat down with their executives. From the financial regulator’s Shanghai and Beijing bureaus, the officials told the exchanges they were interested in identifying whether the startups were meeting anti-money laundering and …

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China’s central bank is considering its own digital currency, but it may not be built with blockchain technology, according a senior official. In an op-ed article published by Chinese media outlet Yicai, Fan Yifei, vice governor of the People’s Bank of China (PBoC), outlined the bank’s direction on a potential central bank digital currency (CBDC). …

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The Business Administration Department of the People’s Bank of China (PBoC) has reportedly issued a document today requiring payment providers in Beijing to stop facilitating cryptocurrency trading activities. The news, first reported by Securities Times, a state-owned media outlet launched by the Communism Party mouthpiece the People’s Daily, said the document requires payment companies to …

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A senior official at the People’s Bank of China is reportedly calling for a wider ban on services related to cryptocurrency trading in the country. Pan Gongsheng, vice governor of the central bank, said, to prevent market risk, the government would apply more strict regulation to end all cryptocurrency trading-related activities and services. The news comes …

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The People’s Bank of China has put to rest a rumor that it would order a domestic shutdown of bitcoin mining activities, according to a local media outlet. The report, published on Jan. 4 by the Chinese business publication Caixin, said that China’s central bank did not host any meetings to discuss a policy requiring …

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The vice governor of the People’s Bank of China, Pan Gongsheng, has said that the country’s regulators took the right decision in cracking down on domestic cryptocurrency exchanges. Speaking at a financial book award event in Shanghai at the weekend, the central bank executive said it was “scary to think about” the scenario if the regulators …

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