China's E-commerce Giant JD Starts Accepting Digital Yuan
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China's largest retailer has started accepting digital yuan for payments during Singles Day, CNBC reports. According to the company, over 100,000 people used digital yuan (also known as e-CNY) via its app during the Singles Day promotion period. However, given the experimental status of the digital currency, users could only spend $2.34 in the digital form.

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The move comes after Reuters reported that a total of 140 million wallets for using China's digital yuan had been registered as of October with transaction's volume hitting $9.5 billion. According to Mu Changchun, the director-general of the digital currency institute of the People's Bank of China (PBOC), approximately 1.55 million merchants can now accept digital yuan using the e-CNY wallets.

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Meanwhile, Yin Yuping, deputy head of the Financial Services Consumer Protection Department at the PBOC, urged citizens to protect their pockets as bitcoin (EXANTE: Bitcoin) is not considered as legal tender in China and has no real value. According to Yuping, cryptocurrency transactions are pure speculation, so people should "stay away" from this type of assets.

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