China considers setting up digital asset exchange to boost e-CNY adoption
A state-backed digital asset exchange might soon crop up in China. However, cryptocurrencies might not be able to find a spot there. In a bid to promote the usage of the digital yuan, the center might be pursuing goals to create a digital asset exchange in Beijing.
Building infrastructure for digital asset trading is also a part of the center’s efforts to boost financial services in the capital, according to guidelines issued by the State Council.
While the guidelines contained no further details regarding the establishment of this exchange, the Council did request that e-CNY trials be hastened while urging banks to set up operation firms for the CBDC.
China’s aversion to private cryptocurrencies can be contextualized in the larger scenario of
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