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PBoC governor says digital yuan to be more privacy-enhanced than payment apps

During a virtual video session at the Bank of Finland Institute for Emerging Economies’ 30th Anniversary Conference, People’s Bank of China governor Yi Gang discussed recent developments regarding the country’s central bank digital currency, or CBDC, known as the digital yuan (e-CNY). Yi specifically addressed the issue of privacy surrounding the Digital Yuan in the following statement, as translated by Cointelegraph:Yi spoke on the storage and utilization of personal information belonging to users of the technology adding:In recent months, the number of people with e-CNY accounts has ballooned to over 140 million. At the same time, its transaction volume surpassed 62 billion yuan ($9.7 billion) in October. When discussing the next steps forward for the CBDC, Yi explained that while the e-CNY remains confined mainly to consumer spending in China’s retail sector, there are plans for cross-border expansion:

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