China and crypto currency woes

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MASSIVE Crypto Rally Incoming?! Don't Miss This Event!
China's digital yuan is a central bank digital currency (CBDC) issued by the People's Bank of China (PBOC) and valued the same as the standard. China appears to be charging ahead with plans to use the e-CNY outside its borders, for international trade. China, which accounts for most of the world's bitcoin mining, has moved aggressively to crack down on cryptocurrencies. In September , Chinese authorities.

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But some close observers think the government underestimated how hard it would be to create a retail payment network from scratch. Other things being equal, the intervention has the potential to lift the dollar index DXY , which tracks the greenback's value against majors. Furthermore, China is still recovering from the pandemic, intrusive public health policies, and an uptick in government surveillance.