China expands pilot program for its sovereign digital currency

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China plans to expand a pilot program for its sovereign digital currency in several regions across the country, moving closer to the official launch of the digital yuan.

The digital currency – dubbed DC/EP, for digital currency/electric payment – would be trialed in major cities across several regions, including northern China’s Beijing-Tianjin-Hebei region, eastern China’s Yangtze River Delta and southern China’s Guangdong-Hong Kong-Macao Greater Bay Area, according to a plan published by the Ministry of Commerce on Friday.

The ministry added that some poorer regions in central and . . .

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