Share this article
China's Xi Asks G20 Countries to Be ‘Open and Accommodating’ to CBDCs
In a wide-ranging speech, Xi said the G20 “needs to discuss developing standards and principles for central bank digital currencies.”
Updated Sep 14, 2021, 10:33 a.m. Published Nov 21, 2020, 8:16 p.m.
China’s President Xi Jinping told G20 meeting attendees this week that the group of the world’s largest developed economies should be open to central bank digital currencies (CBDCs) when developing standards for them.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In a wide-ranging speech that addressed the future of the global economy in the wake of the COVID-19 pandemic, Xi said the G20 “needs to discuss developing standards and principles for central bank digital currencies with an open and accommodating attitude.”
This month, some analysts noted that a drop in bitcoin supply from Chinese miners was caused by a government crackdown on local exchanges. A recent Goldman Sachs report predicts China’s planned digital yuan will account for 15% of total consumption payments in 10 years.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
