Bitcoin price surge may be driving up interest in digital yuan, Bank of China says ...News

The recent rise of bitcoin could be among the reasons for renewed interest in the Chinese digital yuan project, according to the People’s Bank of China (PBOC). The world’s top crypto, bitcoin, is effectively banned in the country. Wang Xin, PBOC’s research bureau director, told reporters that market interest in the digital yuan is “very strong and everyone is paying close attention.” He said, as quoted by CNBC, that “on one hand, this is related to more and more central banks in the world participating in the development of domestic digital currencies. On the other hand, this [interest] may also be related to the large increase in the

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