Tag: Yuan

Can China’s Economy Bounce Back from Coronavirus?

Source: Unsplash As cases of the COVID-19 virus have continued to rise in every corner of the world, the economic costs have quickly become just as apparent as the human costs, the true extent of which we will likely not know in full for a long time. Entire industries such as travel and tourism are grinding to an almost complete halt, whilst major employers across all industries are either considering …
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Chinese Bitcoin Exchanges Need To Impose Stronger KYC And Stop Faking Order Volume

More details are coming to light regarding the PBOC’s press release related to Bitcoin. After the initial announcement sent shockwaves throughout the cryptocurrency community, it appears the bank has Bitcoiners’ best interest at heart. The institution forbids exchanges to do offline promotion, wants them to halt their fake order volumes, and not mentioned the Yuan devaluation. Plus, stronger KYC must be enforced. All things considered, none of these decisions will …
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Renowned Financial Expert Predicts Yuan To Drop 30% In Value Soon

Depending on whom one poses the question to, fiat currencies will either grow stronger or gain in value once again. For the Chinese Yuan, it appears that the first option will become true. ¬†J. Kyle Bass, the person who ¬†predicted the financial crisis in 2008, recently stated how the Yuan would lose another 30% of its value very soon. Given the recent capital controls and outflow plaguing the Country, this …
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New Financial Agreement Between US and China Won’t Affect Bitcoin Price

The world of finance received some interesting yet surprising news this week. As it turns out, neither China nor the US will competitively devalue their local currencies. Although such an agreement existed already, both parties felt the need to reaffirm their position. But what does this even mean for Bitcoin? An Odd Agreement With Interesting Repercussions Anyone who has been following the financial sector over the past year will have …
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