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Starting this month, thousands of workers in a Chinese city will be paid their wages entirely in digital yuan, in what has been described by the central government as a "milestone" for the currency.
SOURCE / ECONOMY By Global Times Published: Mar 17, 2021 08:08 PM A vending machine in a Shanghai underground station allows customers to pay by digital yuan. Photo: Xie Jun/GT The People's Bank of China (PBC), the country's central bank, and two other agencies issued a notice on Wednesday, warning investors of fraud and pyramid schemes using the name of the central bank-backed digital currency, Digital Currency Electronic Payment (DC/EP). According to the notice, some lawbreakers set up a so-called "DC/EP learning group," claiming that the DC/EP is now jointly promoted by commercial ban...