China Will Advance Development of eCNY, Central Bank Gov Says

Nov 10, 2021

China Will Advance Development of eCNY, Central Bank Gov Says

The People's Bank of China governor Yi Gang stated on Tuesday that China will continue to develop its central bank digital currency and enhance its design and usability.

China is a front-runner in the worldwide race to introduce central bank digital currencies (CBDCs) and is now testing a digital yuan, or eCNY, in key cities such as Shenzhen, Beijing, and Shanghai, but has not established a timeline for its formal debut.

"We will wisely develop R&D of eCNY going forward, enhancing its design and usage," Yi stated via video at a Bank of Finland event.

According to Yi, China would strengthen eCNY's privacy and anti-counterfeiting features, as well as its compatibility with existing payment instruments.

He noted that China will assess the impact of the eCNY on its monetary policies and financial markets.

According to Yi, the PBOC places a high value on personal information protection since CBDC issuers must strike a balance between protecting privacy and fighting crime.

To achieve the correct balance, the PBOC gathers information in eCNY applications on a "need-to-know" basis and carefully restricts the storage and use of personal data.

China announced a blanket ban on all cryptocurrency transactions and mining in September. According to some observers, the measure is intended to stamp out a practice that threatens China's own digital currency.

eCNY also intends to address the needs of domestic retail payments, according to Yi, because cross-border digital payments are more difficult, such as anti-money laundering.

According to Yi, the PBOC is eager to increase collaboration with world central banks in the development of CBDC, including the establishment of norms and guidelines.

Subscribe Our Newsletter

Oto

OpenAI Chip Venture: A $7 Trillion Gamble on the Future of AI

Explore Sam Altman's $7T OpenAI chip venture, which aims to revolutionize AI chip manufacturing and has broad implications.

AI
5 Economists And Real Estate Pros Share What Will Happen To Mortgage Rates In 2022
5 Economists And Real Estate Pros Share What Will Happen To Mortgage Rates In 2022s

According to recent estimates from Fannie Mae, the National Association of Realtors, the Mortgage Brokers Association, and others, 30-year mortgage rates will certainly rise during 2022, though the exact rate is anyone's guess. Experts, on the other hand, have their theories.

Stocks
B2BROKER Liquidity B2BROKER Liquidity
Sponsored
Tamta

The Power Of Liquidity For Crypto Exchanges
As of today, nearly 600 cryptocurrency exchanges stand ready, inviting investors to trade thousands of different cryptocurrencies and gain financial profits.

discover
What is the Fear & Greed Index

Levan

What is Fear and Greed Index and How to Analyze It

The Fear and Greed Index allows investors to gauge market sentiment quickly. Here’s how F&G is calculated and how to use it in trading activities.

Investing
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Successful!
    Thank you for your request.
    We will contact you shortly.
    Close

    Hazem

    MetaTrader vs cTrader: Which Trading Platform Shall You Choose?

    MetaTrader vs cTrader: The Full Breakdown

    Сonstantine

    Will Dogecoin Reach $1? Tokenomics and Price Analysis

    Will Dogecoin Reach 1 Dollar Analysis

    Сonstantine

    How to Get a Crypto Exchange License?

    How to Get Crypto Exchange License

    Сonstantine

    Best Crypto to Buy Now: Guide for Investors

    Best Crypto To Buy Now

    Hazem

    Grok vs ChatGPT: What’s the Best AI Assistant You Need in 2025

    Grok vs ChatGPT

    Сonstantine

    How to Choose the Right Liquidity Provider for Your Brokerage

    How to Choose the Right Liquidity Provider for Your Brokerage

    Сonstantine

    Low-Latency Trading Defined: Speed, Strategy and Technology

    Low-Latency Trading Explained

    Hazem

    How Liquidity Depth Affects Slippage in High-Volume Trading

    Liquidity depth and slippage in trading

    Hazem

    What is FIX API Liquidity Connection and How Does it Power Institutional Trading?

    FIX API in institutional trading

    Сonstantine

    OTC Trading Strategies and Technologies to Succeed in Over-the-Counter Markets

    OTC Trading Strategies

    Alexander

    What is OTC Trading? A Complete Guide for 2025

    what is OTC

    Alexander

    Synthetic Futures: A Trader’s Guide to Replicating Positions with Options

    How to Trade Synthetic Futures

    Сonstantine

    Order Book Depth: What It Is And Why It Matters?

    Order Book Depth What It is And Why It Matters

    Alexander

    Spot vs Perpetual Futures: Which Is Right for You?

    Spot vs Perpetual Futures explained

    Hazem

    5 Reasons Traders Are Switching to Perpetual Futures

    5 Reasons to Switch to Perpetual Futures

    Constantine

    Top 3 Liquidity Challenges Facing New Exchanges and How to Solve Them

    Top 3 Liquidity Challenges Facing New Exchanges Today

    Constantine

    Financial Planning in the Cryptocurrency Era — Master Crypto and Digital Asset Strategies

    Financial Planning in the Cryptocurrency Era

    Hazem

    Best Platforms to Trade Perpetual Futures in 2025

    Best platforms to trade perpetual futures in 2025

    Alex

    Top 10 Fintech Website Development Agencies for 2025

    Best Fintech Website Development Agencies for 2025

    Сonstantine

    Internal vs External Range Liquidity In ICT Trading Explained

    Internal vs External Range Liquidity In ICT Trading

    Constantine

    Portfolio Backtesting — Tools, Metrics, and Methods Explained

    Portfolio Backtesting

    Сonstantine

    ICT Trading Explained: Smart Money Concepts, Tools and Setups

    ICT Trading Explained

    Сonstantine

    CFD Trading Strategies: A Practical Guide to Risk and Execution

    CFD Trading Strategies

    Alexander

    What is a Fair Value Gap? A Guide to Trading Market Imbalances

    What is Fair Value Gap
    liquidity-provider-logo
    • News
      • Stock Market Forecast
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
      • AI
      • Technology
      • DeFi
      • NFT
    • Articles
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
      • Blockchain
      • Investing
      • NFT
      • DeFi
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
      • White Label Brokerage Platforms
      • Broker CRM Platforms
    [email protected]

    © 2024 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy
    This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.