Macau’s Chief Executive Ho Iat Seng informed the Legislative Assembly of plans to “study the feasibility of issuing a digital currency.”
In its latest test, the PBoC has partnered with the Industrial and Commercial Bank of China’s Haikou branch and the Sansha city municipal government.
The move is being seen as a widening of the scope of trials of the digital currency, following successful regional pilots across the country.
The controllable anonymity will protect the central bank digital currency against criminal use and ensure the bank can track all payments the users make, according to a central bank official.
As local outlets report, China is accelerating its rollout as it readies the digital currency for use during the Winter Olympics in Beijing in 2022.
With its new decree, the government is further seeking to stamp out cryptocurrency token sales completely, according to local reports.
This week’s top story on CoinGeek Pulse is Tesla’s recent announcement that it bought US$1.5 billion dollars’ worth of BTC.
China’s plans for a central bank digital currency have taken further steps forward, with the roll out of fresh real-world trials.
The Chinese city of Suzhou has announced that it will be holding a $5 million airdrop of China's central bank digital currency the DC/EP.
The accelerated testing phase comes after a successful year for the state-backed digital currency in which it was used in most major cities.
Unlike in Shenzhen, Beijing and Suzhou, the People’s Bank of China is expanding beyond the use of smartphones to make digital yuan payments.