News Snapshot:
The Chinese government is reportedly putting pressure on US-based companies including McDonald’s, Visa and Nike to accept payments in digital yuan before the start of the 2022 Beijing Winter Olympics. McDonald’s China has already begun accepting payments in the central bank digital currency in 270 of its food outlets in Shanghai, but the Chinese government now wants the fast food giant to roll out digital yuan acceptance at more locations across the country. Visa — a worldwide Olympic partner — and Nike have also come under pressure to install systems that support digital yuan payments, according to a Financial Times...
