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Chinese Central Gov’t Wants to Create ‘Digital Asset Exchanges’ as CBDC Nears
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China’s policy-forming State Council has announced that it wants the nation to launch Beijing-based digital asset exchanges to power the adoption of its forthcoming central bank digital currency (CBDC) project, the digital yuan.
The council called upon financial bodies to speed up the pilots for the digital yuan and asked commercial banks in the nation to prepare for the imminent start of transactions with the People’s Bank of China (PBoC)-issued token.
Per a council document published today, as
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