China is expanding the trial of its central bank digital currency to four new provinces including Guangdong, its most populous region.
even before it was released in app stores. It currently encourages tests by using consumer cash rewards and asking retailers to accept e-CNY payments.
While an official date of nationwide release is yet to be announced, China has seized an early lead in readying a CBDC for public use. Some players in the U.S. government, however, view the digital yuan as a tool for surveillance that could also undermine the global dominance of the dollar.that aimed to hold China accountable on its use of the digital yuan, particularly how it might expand its network into the U.S.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.Tom is fintech reporter at The Block. Before joining the team, he was an editorial intern at the FT-backed platform Sifted where he reported on neobanks, payment firms and blockchain startups.
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