#CryptoCurrency / China Plans To Use Digital Yuan At 2022 Winter Olympics

Internal pilots of China’s official cryptocurrency are in progress in multiple cities, and there are intentions to use the digital currency at Beijing’s Winter Olympic Games in 2022…

The head of the People’s Bank of China’s (PBOC) monetary policy section, Sun Guofeng, said the experimental efforts are underway in Suzhou, Shenzhen, Chengdu and Xiongan, according to the report. Guofeng also said during a press conference that the PBOC would not make modifications to its monetary policy approach nor its flexible policy course.

[Renmin University assistant professor:] “At its current stage, the test’s primary goal is to ensure the digital currency’s operation runs smoothly and safely and to determine how DCEP [digital currency electronic payment] is distributed from the central bank to financial institutions.”