TechFlow news — On the evening of October 23 at around 7:40 PM, the People's Bank of China announced improvements to regulations governing RMB management. The draft for public comment states that RMB includes both physical and digital forms, providing a legal basis for issuing central bank digital currency; it also aims to prevent risks associated with virtual currencies by explicitly prohibiting any organization or individual from creating or issuing digital tokens intended to replace the RMB in market circulation (Article 19, Article 22).
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