Category: Cryptocurrency

Accused Money Laundering Leader, Li Xiong, Extradited From Cambodia to China

Li Xiong, a former leader at a Cambodian financial conglomerate accused of laundering money for crime organizations, has been extradited from Cambodia to China, Cambodia said on Wednesday, adding that the action showed it was cracking down on scam operations. Li ...

China Eyes Yuan Stablecoins to Expand Global Currency Role

China is considering allowing the launch of yuan-backed stablecoins for the first time, in what would mark a significant shift in its approach to digital assets and a new step in efforts to expand the currency’s global reach.

Nigeria Unveils a Chinese-Style Digital Currency Platform

Nigeria's President, Muhammadu Buhari, unveiled the country's new digital currency platform, eNaira, on Monday. It is Africa's first virtual currency. The new service will allow Nigerians to make contactless payments, move money between accounts and manage their accounts virtually. Unlike other ...

Don’t Worry America, Africans Aren’t Going to Start Using China’s New Digital Currency… At Least Not Right Away

There's growing unease in Washington that last month's launch of a new Chinese digital yuan threatens the dollar's preeminence as the world's reserve currency. Questions about the new cryptocurrency have come up repeatedly in recent weeks during Congressional testimony, particularly regarding places like Africa, where U.S. anxieties ...

China’s Cryptocurrency Now Has a Foothold in Places Like Africa With the Introduction of Huawei’s Latest Phone

Huawei unveiled its new Mate 40 smartphone on Friday that for the first time comes preinstalled with a built-in e-wallet that uses China's digital yuan or cryptocurrency. Although the Mate 40 will go on sale in most of Africa's ...

Analysis from Cobus van Staden

The End of the Oil Order Is Here and China Is Already Winning

The Iran war has been a real education in how global orders change. The system built on the immutable logic of oil and gas trade seemed as solid as a continent. Now it looks as wobbly as a Jenga tower.
While the war is hastening the end of the fossil fuel era, it also shows how completely U.S. power in the world has been synonymous with hydrocarbons. 

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China is Rapidly Building a New Cryptocurrency That Everyone in Africa Should Know About 

Spurred on by the now flailing Facebook cryptocurrency Libra, China fast-tracked development of its own form of digital money that it initially thought would compete with the social network's but now may have vast portions of the global market to itself, particularly in Africa. ...
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