China’s digital yuan not a backup amid a financial crisis, and there’s ‘no incentive’ to move money

Source: China – South China Morning PostChina will not be pressured into raising the limit on the amount of money that can be held within its central bank digital currency even in the face of a financial crisis, according to the head of its e-CNY department within the central bank.Use of the yet-to-be launched digital yuan is currently limited to 11 cities plus inside venues used for the ongoing Winter Olympics as part of a pilot programme, which will soon also include Hong Kong.In China, bank deposits of up to 500,000 yuan (US$78…Read More

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