Crypto Fuels Fentanyl Ingredient Trade In China
An Elliptic report revealed that Chinese chemical manufacturers accept cryptocurrencies for fentanyl precursors and have received over $27 million in crypto payments. Doctors legally prescribe fentanyl for severe pain, but illegal producers and sellers also offer it as a recreational drug. Fentanyl is highly addictive and can cause fatal overdoses. Most of the fentanyl trafficked […]
China Expands Digital Yuan Usage for Cross-border Trade
China is increasing the use cases for its CBDC, known as digital yuan or e-CNY for its Belt and Road program and cross-border trading. One of the initial CBDCs that was created and extensively tested was the digital yuan, often known as the digital RMB. Despite the lack of a formal launch, the government has […]
China’s CBDC wallet resorts to ages-old customs to boost adoption
China’s wallet app for its digital yuan central bank digital currency (CBDC) introduced a feature for users to send money. In an effort to draw in more users, China’s wallet app for its digital yuan central bank digital currency (CBDC) added a function that allows users to transmit money in an electronic equivalent of traditional […]
China’s CBDC transactions volume crosses $14B mark
Bank of China’s electronic yuan, or e-CNY, is the most frequently used Central Bank Digital Currency (CBDC) globally as transaction volumes total 100.04 billion yuan, or almost $14 billion. By the end of the summer, 360 million transactions had been completed in 15 provinces under the CBDC pilot program, according to the information posted on […]
Binance Appoints Government Officials to Set Up Advisory Board
Former French Treasury chief Bruno Bézard, former political advisor to Barack Obama David Plouffe, and other advisers are added to the worldwide group through the exchange. The largest cryptocurrency exchange in the world by trading volume, Binance, has assembled a prestigious group of former government officials to serve as a global board of advisers as […]