Neo Price Prediction Coinpedia

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.

Experts estimate that as much as 20% of the worldwide bitcoin network remains in China .

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 .

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.