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Bitcoin Ethereum News As per Global Times, the two largest cities in China – Beijing and Shanghai – will be joining the Digital Yuan project. The capital city’s mayor said that they would be hastening the development of “demonstration zones” for fintech and professional services over 2021. This effort will include promoting a pilot application for the Chinese CBDC, officially called Digital Currency Electronic Payment (DCEP). Shanghai’s mayor also made a similar pledge. What Is The Digital Yuan? The DCEP or digital Yuan is the Chinese CBDC overseen by the People’s Bank of China (PBOC). The initial tests had been...
