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China e-CNY follows this principle, work on multi-CBDC bridge in progress
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The world has been watching the rapid rollout of China’s digital yuan, across the country. However, this was also reportedly followed by the country’s first crime involving the CBDC. According to reports, Xinmi Public Security working with the Anti-fraud Center of the Zhenzhou Public Security Bureau arrested 11 people in early November for laundering the CBDC.
Even so, the prevailing mood was optimism, as Governor Yi Gang of the People’s Bank of China delivered a speech about the CBDC on 9 November.
Yi’s speech revealed essential details about the digital yuan, some special features, and the central bank’s privacy policy. To show the scale of adoption, Yi claimed,
“As of October 8, pilot scenarios have exceeded 3.5 million, over 123 million
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