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Financial service providers in China will allow citizens to pay for wealth products using the digital yuan, in a fresh development for the nation’s central bank digital currency (CBDC).
Per the Chinese media outlet Securities Times, the China Securities Regulatory Commission (CSRC) has “officially approved the first application scenario for the digital yuan in the securities market.”
The CSRC is the main regulator of the Chinese securities industry….
Read More: Chinese CBDC Set to Makes Securities Market Debut – Breakthrough for the Digital Yuan?
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