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Old 21st January 2021, 02:01 PM   #6
ponderingturtle
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Originally Posted by EHocking View Post
From a Forbes article.
China Officially Backs a CryptoCurrency and Establishes it as their Official Coin.
The government of China just informed us that they have chosen a preferred firm for the purchase and marketing of their new coin - YuanPay Group. The sales of China's coin officially started Wednesday, January 20, 2021 and currently these coins can be bought only from YuanPay Group.

In fact, China deputy minister of finance, Liu Kun, informed us that their new official coin starting price is just 0.12 cents!
The coin (as at the time of the article) was trading 0.33 cents
First hint this makes no sense, why would a central bank create a digital currency and allow its value to fluctuate with respect to its official currency?

I mean they control the value of their currency really hard they would do the same with any digital currency.
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