China’s President Xi Urges Accelerated Blockchain Technology Adoption
In China, Bitcoin and cryptocurrency are prohibited. This digital currency is considered to damage the stability of the financial system if something happens. This currency is also not guaranteed and is registered with the Chinese central bank.
The Central Bank of China plans to issue its own digital money. PoBC confirms that it is just one step away from issuing digital money that will be operated by WeChat, China Union Pay, Ant Financial.
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