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China's only legal digital currency

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Apr 15, 2024 pm 04:32 PM

digital currencyDigital RMB

What is China’s only legal digital currency? This is an issue that many netizens are concerned about. Next, the editor of PHP will bring you Introduction to China’s Only Legal Digital Currency. Interested netizens should follow the editor to take a look!

China's only legal digital currency

Introduction to China’s only legal digital currency

1. In China, the only legal digital currency is [digital renminbi#] issued by the People’s Bank of China ##].

2. Digital RMB is a legal digital currency that has the same legal status as banknotes and coins and is issued and managed by the People's Bank of China.

3. It adopts a two-tier operation model, with the People's Bank of China issuing the basic layer and commercial banks and other operating institutions providing upper-layer services.

4. The launch of digital RMB aims to improve payment efficiency, promote financial inclusion, and provide support for the development of China’s digital economy.

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