PBoC confirms digital currency pilot
Central bank will test central bank digital currency in a number of provinces
The People’s Bank of China has confirmed it will pilot its central bank digital currency (CBDC) in a number of districts and plans to roll it out at the Winter Olympics in 2022.
In a statement on the government’s official news portal, the head of the PBoC’s Digital Currency Research Institute confirmed “closed pilot tests” would be conducted in Shenzhen, Suzhou, Xiong’an New District and Chengdu.
Following on from the pilot, the central bank will “optimise and improve” the CBDC’s functioning
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