Digital Currency Electronic Payment, or DCEP, is a new and innovative digital payment version of China’s fiat currency – the Renminbi (RMB) – that the Chinese government is rolling out throughout the country.
Read moreWhat is China’s official cryptocurrency?
The digital yuan or e-CNY is a digital version of China’s sovereign currency and has been in the works since 2014. It is not a cryptocurrency like bitcoin but is instead issued and controlled by the People’s Bank of China.
Read moreWhy is China against cryptocurrency?
China’s government said it was especially concerned about crypto mining’s effect on the environment and people using digital currencies for fraud and money laundering . The country is now pushing their own digital yuan currency, and trying to make it more widely available to consumers.
Read moreDoes China own bitcoin?
Experts estimate that as much as 20% of the worldwide bitcoin network remains in China .
Read moreHow can I buy cyber yuan?
The digital yuan is not available to non-Chinese citizens and investors are not able to directly buy or trade its digital currency. Since the digital yuan is simply a digitized version of the physical yuan, there are indirect ways for investors to invest in the China digital currency .
Read moreWhat is China’s cryptocurrency?
The digital yuan or e-CNY is a digital version of China’s sovereign currency and has been in the works since 2014. It is not a cryptocurrency like bitcoin but is instead issued and controlled by the People’s Bank of China.
Read moreIs DCEP a cryptocurrency?
“Digital Currency Electronic Payment” (DCEP or CBDC), is the national digital currency of China built with Blockchain and Cryptographic Technology . So, this cryptocurrency is unlike any before it, DCEP is pegged 1:1 with the Chinese national currency “RMB” and is NOT for speculation.
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