China to Expand Digital Yuan Testing in Pilot Cities to Provincial Level

China to Expand Digital Yuan Testing in Pilot Cities to Provincial Level

China’s central bank intends to enlarge the area covered by trials of its digital yuan currency in four regions of the country. A top representative of the monetary authority announced the move while highlighting that the People’s Bank has been stepping up digitalization efforts this year. Government to Increase Digital Yuan Coverage in 4 Provinces […]

Central Bank of China Calls for Increasing Use of Digital Yuan

Central Bank of China Calls for Increasing Use of Digital Yuan

The People’s Bank of China has urged for widening of the array of use-case scenarios for its central bank digital currency. The monetary authority believes that deeper interconnection with traditional e-payment platforms will make the digital yuan more convenient for consumers. China’s Central Bank Insists on Expanding Digital Yuan Environment The monetary policy regulator of […]

China Introduces Digital Yuan Payments in Ningbo Subway, Guangzhou Buses

China Introduces Digital Yuan Payments in Ningbo Subway, Guangzhou Buses

Authorities in two Chinese cities are promoting the digital yuan as a payment method in the public transportation system. Commuters on the subway of Ningbo and those taking the bus in Guangzhou will be able to purchase their tickets using the state-issued digital currency. Residents and Visitors of Another 2 Chinese Cities to Pay Transit […]

Senators Introduce Bill to Limit Use of China’s Digital Currency in the US — ‘This Is a Major Financial and Surveillance Risk’

Senators Introduce Bill to Limit Use of China’s Digital Currency in the US — ‘This Is a Major Financial and Surveillance Risk’

Several U.S. lawmakers have introduced a bill to prohibit app platforms in the country from hosting apps that enable transactions using China’s central bank digital currency, the digital yuan. “The Chinese Communist Party will use its digital currency to control and spy on anyone who uses it. We can’t give China that chance,” said the […]

Digital Yuan Giveaway: Shenzhen Residents to Receive 15 Million Yuan in Digital Currency

Digital Yuan Giveaway: Shenzhen Residents to Receive 15 Million Yuan in Digital Currency

The Chinese government is giving away 15 million yuan in central bank digital currency (CBDC) to 130,000 residents of Shenzhen this Friday. The digital yuan can be used at nearly 5,000 stores with no minimum purchase required. Digital Yuan Pilot Continues China’s central bank, the People’s Bank of China (PBOC), continues to test its central […]

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