The digital yuan is trialed again in Shenzhen, at ATMs and via a smart card. Crypto mining rig prices soared as Bitcoin hit the $41,000 mark.
NFT market is also bustling with new projects in China. That may come as a surprise for people familiar with China’s strict crypto policy.
Recent floods have washed away remote Sichuan bitcoin mines, but small wildcat miners were already getting washed away by Big Bitcoin.
Ant Group employees can use the Alipay app for digital yuan transactions in select locations, including the Lujiazui district in Shanghai.
The newly approved law will take effect next year on Jan. 1.