03/08/2021: El Salvador Adopts Bitcoin as Legal Tender
El Salvador becomes the first country to recognize Bitcoin, including Bitcoin Cash (BCH), as a legal tender, leading to increased adoption.
24/02/2021: Bitcoin Cash Becomes Merchant Payment Solution
Bitcoin Cash (BCH) gains traction as a popular cryptocurrency for merchant payments due to its low fees and faster transaction times.
15/11/2020: Bitcoin Cash ABC vs. Bitcoin Cash Node
A contentious hard fork occurs within Bitcoin Cash (BCH) community, resulting in a split between Bitcoin Cash ABC and Bitcoin Cash Node.
15/05/2018: Bitcoin Cash Upgrade
Bitcoin Cash (BCH) undergoes a hard fork called ABC upgrade, introducing larger block sizes and smart contract functionalities.
01/08/2017: Bitcoin Cash Hard Fork
Bitcoin Cash (BCH) splits from Bitcoin (BTC) due to a contentious hard fork, increasing the block size to 8MB.
29/11/2015: Inclusion of the Renminbi in IMF's SDR Basket
The International Monetary Fund (IMF) includes the Renminbi in its Special Drawing Rights (SDR) basket, recognizing its global importance as a reserve currency and boosting the international status of the Chinese Yuan Renminbi.
18/06/2009: Resumption of Renminbi Appreciation
China allows the Renminbi to resume an appreciation trajectory against the US dollar after a period of stability, signaling a shift in the country's exchange rate policy.
03/01/2009: First Bitcoin Block Mined
The Genesis Block, also known as Block 0, is mined, marking the birth of Bitcoin network.
31/10/2008: Bitcoin Whitepaper Released
Satoshi Nakamoto publishes Bitcoin whitepaper, laying the foundation for peer-to-peer electronic cash system.
20/07/2005: Introduction of Managed Float
China adopts a managed floating exchange rate system, allowing the Renminbi to fluctuate within a narrow band against a basket of currencies, reducing its dependence on the US dollar.
31/12/1993: Renminbi Pegged to US Dollar
China pegs the value of the Renminbi to the US dollar, setting an exchange rate of 8.28 Yuan per dollar, which remains fixed for over a decade, impacting China's export competitiveness.
31/12/1992: Introduction of Dual Currency System
China introduces a dual currency system, with the offshore Renminbi (CNH) and the onshore Renminbi (CNY), aiming to facilitate foreign exchange flows and international trade.
14/08/1971: End of the Bretton Woods System
The United States suspends the convertibility of the US dollar to gold, leading to the collapse of the Bretton Woods System and a shift towards floating exchange rates, affecting the value of the Chinese Yuan Renminbi.
14/12/1948: Formation of the People's Bank of China
The People's Bank of China was established, marking the beginning of central banking in China and the introduction of the Chinese Yuan Renminbi as the official currency.