The digital yuan’s highest profile tests began in Shenzhen in September, when city officials held a lottery, giving away $1.5 million in 50,000 in “digital red envelopes” containing 200 yuan—about $30—usable at 4,000 merchants who signed up to accept the digital yuan. That and subsequent tests have been called wildly successful by People’s Bank of China Governor Yi gang.
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ConsenSys snags key partnership with China’s national blockchain project
The deal between the Ethereum development firm and the government-controlled Blockchain-based Service Network puts Quorum front and center with Chinese DApp developers
Five months after ConsenSys acquired the Quorum blockchain from creator JPMorgan bank, the Brooklyn-based Ethereum development firm has announced a major coup: a partnership with China’s national blockchain project.
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CCB International Securities dumps gold for bitcoin
Mark Jolley said that the Hong-Kong-based asset management firm sold one-third of its gold for bitcoin, despite being owned by China Construction Bank, a giant in bitcoin-banning China
Jolley suggested that a bitcoin allocation belongs in all portfolios, after suggesting that the United States dollar will see significant inflation next year. “We normally have a 15% allocation [...] to gold, bitcoin will come in and replace some of that gold allocation. I’ve set it at 5%," he said.
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Ripple, Garlinghouse come out swinging at SEC’s XRP lawsuit
Saying it is fighting for the entire crypto industry, Ripple and its CEO responded aggressively to the Securities and Exchange Commission’s claim that XRP is an unregistered security they sold illegally
Rather than the accommodating tone most companies take when sued by the SEC, Ripple, Garlinghouse, and Larsen have come out the door swinging, accusing the agency of legislating by litigation and promising to fight the charges vigorously on behalf of both themselves and the larger cryptocurrency industry.
