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.
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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.
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