• digital payments anti-trust
    Cryptocurrencies,  Politics,  Regulation

    Launching its own digital currency, China take aim at digital payment titans

    The People’s Bank of China has called for an anti-trust investigation of Alipay and WeChat Pay, which together control 94% of the market. Is the forthcoming digital yuan responsible?

    China is creating a digital currency that can be used for day-to-day payments. Now a new report claims the People’s Bank of China is trying to initiate an anti-trust investigation against the two firms that dominate this space: Alipay and WeChat Pay.

  • China testing digital yuan
    Cryptocurrencies,  Politics

    China testing digital yuan in four cities

    European and Asian countries have been scrambling to catch up in the race for a digital currency, even as the U.S. drags its heels; annoucement suggests no 2022 Winter Olympics roll-out

    The People’s Bank of China (PBoC) said in an April 17 release that its prototype, central bank-issued digital yuan is being put through its paces in Shenzhen, Chengdu, Suzhou, and Xiong’an, which lies about 60 miles from Beijing. It will also be tested at the 2022 Winter Olympics in Beijing.

  • This is for my boyfriend, so don't tell my husband! (Library of Congress via Wikimedia Commons).
    Cryptocurrencies,  Regulation

    Rationing Privacy: ECB suggests digital currency ‘anonymity vouchers’

    An EU-issued central bank digital currency could provide an allowance of tokens good for keeping Big Brother from looking at your spending

    Planning to score some cocaine before meeting your girlfriend at a hotel? Neither the cops nor your wife will be any the wiser if you use some of the “anonymity vouchers” Europe’s central bank just proposed building into an e-euro. It’s kind of like trying to sneak across a room unseen by screaming, “nobody look at me!”

  • digital yuan rollout
    Asia & Australia

    Controllable anonymity: China goes full Orwell on digital yuan

    The head of the People’s Bank of China digital yuan project promises the central bank is ‘not seeking full control of the information of the general public’

    Here’s a beautiful turn of phrase from a Chinese central bank executive talking about its forthcoming national digital currency: “controllable anonymity.”