Topics
Digital Currency
China is taking the lead in the race to become the first major economy to officially launch a sovereign digital currency, as its ongoing pilot programs have made headlines and its central bank officials have been offering explanations about the issue and what’s behind Beijing’s digital yuan ambitions.
In Depth: China’s Digital Currency Ambitions Lead the World
The future of money is electronic and Beijing wants to own it
Commentary: London Trial of Bitcoin ‘Mastermind’ Is a Landmark Test for Global Justice
The trial of Qian Zhimin, scheduled to begin Sept. 29, will stand as a measure of how courts confront cross-border financial crime in the era of digital currency
Business Brief (Sept. 9): China and ASEAN Conclude Free Trade Agreement 3.0 Negotiations
Xiaomi manager dismissed for leaking confidential information, QCraft to partner with Qualcomm
Cover Story: How the Yuan is Taking Over the Dollar’s Role in Global Trade
Economists argue an offshore yuan stablecoin could offer a viable alternative to the dollar
Commentary: The Enduring Logic Behind Gold’s Record Highs
Geopolitical shifts, a weakening dollar and eroding faith in central banks are fueling a long-term rally that has yet to peak
Commentary: Trump’s New Playbook to Target Global Trade and Financial Systems
U.S. President Donald Trump’s new tariff regime and embrace of stablecoins are designed to subvert the World Trade Organization and extend the U.S. dollar hegemony, forcing China to devise urgent countermeasures
Ant Group’s Bid to Acquire Hong Kong Brokerage Faces Hurdles as Internet Platforms Remain Under Heightened Regulation
Ant Group’s attempt to acquire 50.55% of Hong Kong-listed Bright Smart Securities for HK$2.814 billion (US$360 million) has stalled, pending approvals from Chinese regulators including the NDRC and multiple financial authorities. Regulatory scrutiny focuses on compliance and illegal cross-border brokerage issues; prior attempts by Ant and other internet firms to secure brokerage licenses have also failed. Ongoing uncertainty over Ant’s acquisition and regulatory stance has led to volatile Bright Smart stock prices and limited strategic clarity for both companies.
In Depth: Digital Scammers Find Analog Opportunity Exploiting Delivery Rules
Fraudsters have substituted increasingly traceable electronic payments with physical delivery of cash and other valuables using lightly regulated van-for-hire apps
In Depth: How China’s Crypto Ban Makes Disposing of Seized Assets a Lot Harder
Without an established legal route for selling cryptocurrency involved in criminal cases, law enforcement officials are left dealing with third parties lacking unified oversight and overseas exchanges with varying degrees of cooperation
Opinion: China’s Approach to Stablecoins Should Focus on Their Risks
The digital currencies shouldn’t be ignored, but they require in-depth study into how they should be regulated, with close attention paid to the experiences of other countries and regions, like in the current testing ground of Hong Kong
Digital Assets and Tokenization
Digital assets emerge from the tokenization of value, representing a paradigm shift from account-based to token-based financial infrastructures, blending ownership, income, and usage rights. As of July 2024, stablecoins reached a $261.1 billion market cap (with USDT at 62%), and China's digital RMB recorded 7.3 trillion yuan in pilot transactions; tokenized assets' application ranges from CBDCs to securities and RWAs. Tokenization offers programmability, cross-border P2P transactions, and financial inclusivity, while also posing challenges in regulation, asset verification, and risk management.
Cover Story: Stablecoins Face Reality Check as Tech Gaps and Policy Firewalls Mount
Global policymakers reassess crypto’s promises amid tech, security and compliance concerns
Hong Kong Regulator Targets Early 2026 for First Stablecoin Licenses
Applicants must undergo identity verification and face tighter anti-money laundering rules
CX Briefing: China’s Industrial Profit Drop Narrows
Also in today’s rundown: Energy regulator to audit eight coal producing regions in overcapacity crackdown, Beijing launches national cash-for-kids program amid deepening demographic crisis
Commentary: Does China Actually Need Yuan Stablecoins?
The only truly valuable application lies in improving the efficiency of cross-border transactions, which aligns with the real needs of the economy
CX Briefing: New Solar Installations Nosedive
Also in today’s rundown: Ele.me’s ex-CEO accused of accepting more than $5.6 million in bribes, PBOC pushes ahead with plans to internationalize the digital yuan
Sign in with Google
Sign in with Facebook
Sign in with 财新