The countries in the European Union collectively account for 6% of the Bitcoin network’s hashrate while the U.S. has emerged as the world’s number one bitcoin miner, a new report has said. The economic bloc’s bitcoin mining prospects are however being hamstrung by geopolitical tensions and the region’s energy dependence. The EU’s Bitcoin Mining Prospects […]
Ministry of Information and Technology of China to Formulate New Web3 Strategy
The Ministry of Information and Technology of China has agreed to formulate a new strategy for the Web3 field to improve the state of the industry in China. The initiative comes as an answer to a proposal made at the 14th Chinese People’s Political Consultative Conference (CPPCC) National Committee, aiming to strengthen Web3’s condition in […]
Bank of China Completes First Precious Metal Digital Yuan Settlement
The Shanghai branch of the Bank of China has completed the first settlement of precious metals using the digital yuan. The transaction, finalized on December 19, allowed the Shanghai Gold Exchange to close a $ 14 million precious metal trade after receiving the funds overseas, according to local media reports. Bank of China Completes …
Bank Of China Completes First Cross-Border Digital Yuan Commodities Trade
The Bank of China Hong Kong, the second largest bank in the region, has completed its first cross-border digital yuan-based trade. The transaction, finalized with its sibling bank, the Bank of China, served to receive the payment for an imported iron ore commodity bulk trade, establishing the digital yuan as an option for this kind […]
China and Singapore Team Up to Allow Tourists to Spend Digital Yuan
Singapore and China have teamed up on a pilot to allow tourists in both countries to spend China’s central bank digital currency, the digital yuan. “This will enhance convenience for travelers when making purchases during their overseas travel,” Singapore’s central bank described. Tourists in China and Singpoare Can Spend Digital Yuan Singapore’s central bank, the […]