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China's E-CNY Can Buy Gold, FX, Supporting Anonymous Payment

CHINA PRESS
MNI (Singapore)

China’s e-CNY is legal tender in digital form and can be exchanged 1:1 with physical yuan, so it can be used to buy gold and foreign exchange, the Shanghai Securities News reported citing Mu Changchun, director of the Digital Currency Research Institute at the People's Bank of China, in responding to recent misunderstandings of e-CNY. The digital yuan is positioned at M0 and will meet the needs of personal anonymous payment, and the authority can inquire about user information only when suspected illegal transactions are triggered, the newspaper said citing Mu.

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