1 REVENUE FROM RAILWAY TRANSPORT INCREASES BY 15 PERCENT WWW.MONTSAME.MN PUBLISHED:2019/12/13      2 COPPER EXPORT AMOUNTS TO 1.29 TONS IN 11 MONTHS WWW.ZGM.MN PUBLISHED:2019/12/13      3 INFLATION RISES 5.2 PERCENT YOY WWW.ZGM.MN PUBLISHED:2019/12/13      4 BANKING ON ACTION: HOW ADB ACHIEVED 2020 CLIMATE FINANCE MILESTONE ONE YEAR AHEAD OF TIME WWW.MONTSAME.MN PUBLISHED:2019/12/13      5 BUDGET REVENUE AMOUNTED TO MNT9.7 TRILLION WWW.MONTSAME.MN PUBLISHED:2019/12/13      6 SALES OF INDUSTRIAL PRODUCTION INCREASE BY MNT1.9 TRILLION IN THE FIRST 11 MONTHS OF 2019 WWW.MONTSAME.MN PUBLISHED:2019/12/13      7 MONTHLY AIR QUALITY STATISTICS RELEASED WWW.MONTSAME.MN PUBLISHED:2019/12/13      8 RIO TINTO SCORES BIG WIN IN MONGOLIA WWW.MINING.COM PUBLISHED:2019/12/13      9 WHO DONATES FLU DRUG TO MONGOLIA WWW.XINHUANET.COM PUBLISHED:2019/12/13      10 TURQUOISE HILL: WHILE MONGOLIA WANTS MORE MONEY NOW, THE DECREASE OF UNCERTAINTY PUSHES THE STOCK UP WWW.SEEKINGALPHA.COM PUBLISHED:2019/12/13      ТЭЭВРИЙН ХЭРЭГСЛИЙН ИМПОРТ XI САРД ӨМНӨХ ОНЫ МӨН ҮЕЭС 25 ХУВИАР ӨСӨЖ, НЭГ ТЭРБУМ АМ.ДОЛЛАР ДАВЖЭЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/12/12     XI САРД ХЭРЭГЛЭЭНИЙ БАРАА ҮЙЛЧИЛГЭЭНИЙ ҮНЭ ӨМНӨХ ОНЫ МӨН ҮЕЭС 5.2 ХУВИАР ӨСӨВ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/12/12     ЗЭСИЙН БАЯЖМАЛЫН ЭКСПОРТ I-XI САРД 8.4 ХУВИАР ӨСӨЖ 1.67 ТЭРБУМ АМ.ДОЛЛАР БОЛОВ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2019/12/12     ЭЗССХ: 2020 ОНЫ ДУНД ҮЕД МОНГОЛ УЛСЫН ЭДИЙН ЗАСАГ УНАЛТЫН МӨЧЛӨГТ ОРОХ ЭРСДЭЛТЭЙ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/12/12     "УЛААНБААТАРТ АЖИЛЛЛАЖ БУЙ ИРГЭДИЙН САРЫН ДУНДАЖ ЦАЛИН 1.3 САЯ ТӨГРӨГ БАЙГАА НЬ УЛСЫН ДУНДЖААС 118 МЯНГАН ТӨГРӨГӨӨР ИХ" WWW.IKON.MN  НИЙТЭЛСЭН:2019/12/12     МАНАЙ УЛС ЭНЭ ОНЫ ЭХНИЙ 11 САРД ДЭЛХИЙН 152 УЛСТАЙ ХУДАЛДАА ХИЙЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/12/12     МОНГОЛ УЛСЫН ГАДААД ӨР СҮҮЛИЙН ЖИЛД ХОЁР ТЭРБУМ АМ.ДОЛЛАРООР ӨСЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/12/12     ДОНАЛЬД ТРАМПЫН ХҮҮ МОНГОЛД АМРАХДАА ТУСГАЙ ЗӨВШӨӨРЛӨӨР АРГАЛЬ АГНАЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2019/12/12     “СААРАЛ ЖАГСААЛТ”-ААС САЛГАХ ФИНТЕК WWW.EAGLE.MN  НИЙТЭЛСЭН:2019/12/12     ХӨХҮҮРИЙН АЙРАГ ЮНЕСКО-ГИЙН БИЕТ БУС СОЁЛЫН ӨВД БҮРТГЭГДЖЭЭ WWW.EAGLE.MN  НИЙТЭЛСЭН:2019/12/12    

Bitcoin beware? After banning all cryptocurrencies China ‘close’ to releasing its own digital coin www.rt.com

The People’s Bank of China (PBOC) is “close” to issuing its own digital currency, a senior official has said. The news follows a crackdown by authorities on cryptocurrency trading with some 100 exchanges closed since 2017.
China’s own cryptocurrency is “close to being out,” deputy director of the PBOC’s payments department Mu Changchun said at the China Finance 40 Forum, as cited by Bloomberg. He revealed that the bank’s researchers have been at work on the Chinese state digital currency for over a year now, but did not specify its scheduled release date.

The introduction of the PBOC digital currency is aimed at asserting state control of cryptocurrency circulation, according to the official. It will comply with China’s regulations on fraud and money laundering, and will be based on a “two-tier” system, with the central bank partnering up with some other Chinese financial institutions to oversee its supply.

Mu also noted that the digital currency would not solely be based on blockchain technology, citing fears that it might not be able to process the transaction volume necessary for China.

The PBOC stated earlier in August that it plans to “expedite the research of China’s legal digital tender” and monitor the trends of virtual currency development both abroad and at home. The Chinese central bank reportedly sped up the development of its digital currency after Facebook announced plans to launch a global digital coin, Libra.

Facebook’s digital coin has been widely criticized since it was announced, with authorities in the UK, the US, and Russia expressing concern that Libra could create risks for the global financial system due to uncontrolled capital flows.

China was one of the first countries to impose restrictions on cryptocurrencies. Back in 2013, financial institutions were banned from transactions with them. In 2014, banks and payment systems had to stop servicing accounts for trading in cryptocurrency. In 2017 the government ordered all local crypto exchanges to stop their operations. Initial coin offerings, or ICOs, were also banned. Following this, almost 100 cryptocurrency exchanges were closed.

China won’t be the first nation to launch a cryptocurrency. Last year, Venezuela launched Petro, aiming to get around US sanctions. However, Petro coins have not entered into wider circulation to date.



Published Date:2019-08-14