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PBOC to include digital yuan into new Central Bank Law

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.

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