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China's central bank includes the digital yuan in the draft revision of the country central bank law, providing more legal ground to the regulation of its sovereign digital currency which has been in testing in several Chinese cities.
The proposed law made public by the People's Bank of China (PBOC) recognizes the national currency, the yuan, in both physical and digital form, to be the one and only official yuan-pegged token in China.
In Article 19 under Section 3, the draft revision proposes to include the wording that "the yuan includes both . . .
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