China's central bank lays regulatory foundation for CBDC
China’s central bank lays regulatory foundation for CBDC

China’s central bank, the People’s Bank of China (PBOC), published a draft law this Friday that aims to provide regulatory framework and legitimacy for a forthcoming central bank digital currency (CBDC), the digital yuan.

The draft law states that the yuan is the official currency of the People’s Republic of China whether in physical or digital form.

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