The introduction of digital currency is "inevitable", according to the outgoing governor of the People's Bank of China, who nevertheless stresses that any progress on the issue will be carried out in a "steady and orderly fashion".
The craze for cryptocurrency mining is putting increasing strain on electrical grids, raising concerns about capacity around the world and the prospect of a migration of coin mining operators to new jurisdictions.
China UnionPay has teamed up with more than 30 local commercial banks and payment institutions to launch a unified app for the country's banking industry.
The People's Bank of China (PBoC) has announced an immediate ban on initial coin offerings (ICOs)declaring them illegal and a threat to financial stability.
The People's Bank of China is set to make digital payment firms such as Ant Financial and Tencent use a new central clearing house, a move which will see companies forced to share transaction data with rivals.
Efforts by IT security researchers to get to the bottom of the recent ransomware attack have been hampered by an inability to find early traces of the so-called WannaCry strain, according to research commissioned by Reuters and conducted by security ratings firm BitSight.
The People's Bank of China has set up a committee that will investigate the impact of fintech on monetary policy and financial markets as well as how big data and AI can be used for regulatory oversight.
The People’s Bank of China (PBOC) has completed a successful trial run of a digital bank acceptance exchange, moving it closer to becoming the first central bank in the world to research and test its own digital currency, according to media agency Caixin.
Plans for London-Shanghai Stock Connect have been greenlighted by the British Government as the country looks to expand global trade ties in a post-Brexit world.
China is finally preparing to open up its huge payments card market to foreign firms such as Visa and MasterCard.
© Finextra Research 2019