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What is the official cryptocurrency of China called?

avatarHarshith PabbatiDec 26, 2021 · 3 years ago3 answers

China, as one of the leading countries in the field of digital currencies, has its own official cryptocurrency. What is the name of the official cryptocurrency of China?

What is the official cryptocurrency of China called?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    The official cryptocurrency of China is called the Digital Currency Electronic Payment (DCEP). It is a digital form of the Chinese yuan (CNY) and is backed by the People's Bank of China. DCEP aims to replace cash in circulation and provide a more efficient and secure means of payment within China. It is currently being tested in various pilot programs across the country.
  • avatarDec 26, 2021 · 3 years ago
    China's official cryptocurrency is known as the Digital Currency Electronic Payment (DCEP). It is a centralized digital currency issued and controlled by the People's Bank of China. DCEP is designed to enhance the efficiency of transactions and reduce the reliance on traditional banking systems. It is expected to play a significant role in the future of China's financial system.
  • avatarDec 26, 2021 · 3 years ago
    The official cryptocurrency of China is called the Digital Currency Electronic Payment (DCEP). It is a government-backed digital currency that aims to streamline transactions and reduce the reliance on traditional banking systems. DCEP is currently being tested in various cities and is expected to be fully implemented in the near future. It is an exciting development in the world of digital currencies and has the potential to revolutionize the way we make payments.