Bitcoin, the digital money created as an alternative to currencies controlled by nations and banks, is finding that its wider adoption depends on both as governments in China and the U.S. demand enthusiasts play by existing rules.
Deutsche Boerse AG has signed an agreement to help Bank of China Ltd. gain access to European markets as the operator of Eurex and the Frankfurt Stock Exchange seeks to combat declining trading volumes at home.
Yuan deposits in Hong Kong rose by the most since April 2011 to a record in October amid bets China will step up efforts to increase the global usage of the currency and implement policies to spur growth.
Taiwan plans to let some mainland Chinese companies issue yuan-denominated notes on the island, as the government seeks to expand options for its citizens to invest their 123 billion yuan ($20 billion) of savings.
The People’s Bank of China said the country does not benefit any more from increases in its foreign- currency holdings, adding to signs policy makers will rein in dollar purchases that limit the yuan’s appreciation.