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CNBC: China digital currency: Beijing to hand out $6.2 million in trial

Wed June, 2021, Age: 2 years

Beijing is launching a city-wide lottery to hand out 200,000 red packets containing $31 each of digital currency, distributing a total of $6.2 million to launch the digital yuan. Other major Chinese cities have established similar campaigns, including Chengdu and Shenzhen. China’s central bank digital currency allows the People’s Bank of China to regulate the digital yuan closely, unlike other cryptocurrencies.

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