Utterly bustling

BEIJING — The People’s Bank of China has warned against betting on the yuan
, after its rapid decline against the U.S. dollar this week.

“Do not bet on a one-sided appreciation or deprecation of the renminbi exchange rate,” the central bank said in a Chinese statement on its website late Wednesday, according to a CNBC translation.

That’s based on a readout of a speech by vice governor Liu Guoqiang at a video conference meeting on foreign exchange that day.

The renminbi, or the yuan, crossed the 7.2 level against the greenback Wednesday, falling to its weakest since 2008. The U.S. dollar index
, which tracks the dollar against major global currencies, has climbed to two-decade highs as the U.S. Federal Reserve aggressively raised interest rates this year

Called Crypto Secure, the system uses “sophisticated” artificial intelligence algorithms to determine the risk of crime associated with crypto exchanges on the Mastercard payment network. The system relies on data from the blockchain, a public record of crypto transactions, as well as other sources.

The service is powered by CipherTrace, a blockchain security startup Mastercard acquired last year. Based in Menlo Park, California, CipherTrace helps businesses and government agencies investigate illicit transactions involving cryptocurrencies. Its main rivals are New York firm Chainalysis and Elliptic, which is based in London.

To lead the finance function of 2025, CFOs will have to be adept at managing across functions, building the right combination of capabilities, and establishing a strong data foundation—simultaneously.

In updating our 2018 predictions for the future of finance—taking into account the unforeseen COVID-19 pandemic—we couldn’t help but see their tight interconnectedness. Automation can support new operating models and may be enabled by ERP upgrades. Gains in self-service and faster reporting cycles can transform finance’s role. And everything hinges on good data and a skilled workforce.