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China making rapid strides in digital currency project

China making rapid strides in digital currency project

The People’s Bank of China (PBOC) has been working on developing a national digital currency, and is currently testing the digital yuan that aims to replace some of the cash in circulation. A PBOC director said interest in the digital yuan is ’very strong and everyone is paying close attention.’ 200 million yuan ($30.4 M) of the currency is already distributed in pilot projects across the country.

Kathy
Kathy
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