🚀 Stay Ahead with AltcoinDaily.co! 🌐 Yao Qian, the former head of China’s Central Bank Digital Currency (CBDC) Institute, has been expelled from the Chinese Communist Party for alleged corruption related to crypto. According to the announcement, China’s top anti-corruption agency revealed several accusations involving breaking rules and laws. Yao Qian Abused His Power Yao…
The People’s Bank of China emphasized the Mbridge platform’s role in improving cross-border payments through the use of central bank digital currencies (CBDCs), aiming to reduce inefficiencies and avoid new barriers. The platform, which targets underserved regions like ASEAN, could reshape global finance and challenge the U.S. dollar’s dominance while requiring careful coordination to maintain…
China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been conducted in 17 different areas, accumulating a total transaction value of…