City of Shenzhen airdrops 30M in free digital yuan to stimulate consumer spending

According to local news outlet Shanghai Securities News, the city of Shenzhen will airdrop 30 million digital Chinese yuan (e-CNY) to local residents in an attempt to revitalize consumer spending.  The airdrop is a joint effort between the city of Shenzhen and Meituan Dianping, China’s leading food delivery app. As per instructions, users would need … Read more

Senators Introduce Bill to Limit Use of China’s Digital Currency in the US — ‘This Is a Major Financial and Surveillance Risk’ – Regulation Bitcoin News

Several U.S. lawmakers have introduced a bill to prohibit app platforms in the country from hosting apps that enable transactions using China’s central bank digital currency, the digital yuan. “The Chinese Communist Party will use its digital currency to control and spy on anyone who uses it. We can’t give China that chance,” said the … Read more