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A Chinese foreign exchange regulator official showed its support for the CBDC development, the digital yuan. Lu Lei, deputy administrator of the State Administration of Foreign Exchange (SAFE), explained to the CNA agency that some of the main Features of CBDC could help enhance the effectiveness of monetary policy tools. The official added that central banks could make CBDCs M2 currency, which includes some deposits and savings, based on its programmable Features . Lu concluded that payments based on CDBC can become safer, more convenient, and inclusive.  You might also like: Shanghai Clearing House adds support for digital yuan in commodity trading Digital yuan development The development of the digital yuan, China’s official digital currency, has been a significant focus for the country in recent years. Led by the People’s Bank of China (PBoC), China has been actively working on its CBDC project, known as the Digital Currency Electronic Payment (DC...

The insurer attached an exclusion saying that any losses, damage, claim, occurrence or lawsuit related to NFTs are not covered by the policy. CNA Financial, the seventh-largest commercial insurer in the United States, has excluded nonfungible tokens (NFTs) coverage from Schwab Strategic Trust’s policy worth $20 million. In a filing submitted to the US Securities and Exchange Commission (SEC), the insurer attached an exclusion to the document, mentioning that the bond does not cover any "loss, damage, claim, occurrence, or suit related to NFTs. The filing defined NFTs as: “Any unique digital identifier connected to any digital ledger technology which may be used to certify authenticity or ownership of anything, including but not limited to any digital, tangible, or intangible item, but cannot be substituted or exchanged for any similar item.” With the section attached to the policy , any losses related to NFTs will not be cover ed by the insurer. However, while NFTs are exclud...