Category: china digital currency

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US Lawmaker: Americans Don’t Need CBDC That Can Track Purchases Like China’s Digital Yuan

September 1, 2023

Several lawmakers have expressed concerns about the privacy risks of the Federal Reserve issuing a central bank digital currency (CBDC). “Americans have a right to financial privacy,” one congressman said, emphasizing: “We do not need a CBDC that can track your purchases like China does with their digital yuan.” Another noted: “CBDC is to sound…
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China’s Digital Currency Used in Transactions Worth $10 Billion, 140 Million People Have Digital Yuan Wallets

November 7, 2021

China’s central bank digital currency (CBDC), the digital yuan, has been used in transactions worth nearly $10 billion, according to an official with the Chinese central bank, the People’s Bank of China (PBOC). In addition, the government digital wallet has been downloaded by about 140 million people. Digital Yuan’s Adoption Rises, Nearly $10 Billion Transacted…
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