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PBoC Governor Says 'Successful' Digital Yuan Trials Have Transacted $299M
The governor of the People's Bank of China praised recent tests of the digital yuan at the Hong Kong Fintech Week conference on Monday.
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The governor of the People's Bank of China praised recent tests of its national digital currency at the Hong Kong Fintech Week conference on Monday.
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As reported by Bloomberg, Yi Gang said the pilot program, which has spanned multiple Chinese cities this year, has proven successful.
Over 4 million transactions totaling more than 2 billion yuan ($299 million) have been conducted using the digital yuan, Yi said.
Financial services in remote areas have been bolstered by new technologies, the governor explained, including microloans and risk management, which plays into how the China is looking to spread the digital currency.
The COVID-19 crisis has also accelerated the need for contactless banking, creating challenges for central banks looking to balance consumer needs and safety, he added.
See also: China Should Take Part in Creating Global Regulatory Framework for Digital Currency, Xi Says
Speaking on a virtual panel with the General Manager at the Bank for International Settlements Agustin Carstens and the President of the Dutch central bank Klass Knot, Yi noted safeguarding consumers' private information is challenging.
Per a Reuters report Monday, Yi played down the prospect of an imminent launch, saying the digital yuan project is still in the early stages.
China must still develop a “fairly complicated and fairly complete legal framework,” he said, particularly around transparency.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Ano ang dapat malaman:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Ukraine banned Polymarket and there’s no legal way for it to come back
Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
Ano ang dapat malaman:
- Ukraine has no legal framework for Web3 prediction markets, and current legislation provides no recognition for such platforms.
- Polymarket and similar platforms are considered unlicensed gambling operators, leading to blocked access.
- Legal changes are unlikely in the near future, as Parliamentary revisions to gambling definitions are extremely improbable during wartime, leaving prediction markets in a legal deadlock.
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