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China Launches Digital Yuan International Operations Center in Shanghai
China Launches Digital Yuan International Operations Center in Shanghai
20
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BTCCSquare news:
China's central bank has established a new international operations hub for its digital yuan in Shanghai, marking a strategic push to expand the currency's global reach. The People's Bank of China (PBOC) framed the MOVE as part of a "historical inevitability" in payment system evolution, targeting improved cross-border settlement efficiency.
The initiative comes as China reins in other digital asset experiments, with securities regulators recently ordering brokerages to halt real-world asset tokenization ventures in Hong Kong. This contrast highlights Beijing's selective approach to financial innovation—championing state-controlled CBDCs while curtailing decentralized crypto projects.
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