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China Expands Digital Yuan Trials to More Cities
China will expand its digital yuan trial to more areas from the current 11 cities and regions, according to the central bank. The market’s response toward the use of the digital yuan in pilot cities and Winter Olympic venues has been good, and user and transaction scales have both been “growing steadily,” the People’s Bank of China said Saturday following a meeting chaired by Governor Yi Gang. In the next step to promote the use of digital yuan, the central bank said it will work on privacy protection and crime prevention, and conduct “deep research” of the impact on the country’s financial system. ... (full story)