China ceases rumours of real estate trades with digital yuan.
It is sure now that the statements with reference to digital yuan being used to purchase estate are false. From the moment of its appearance, being extremely popular digital yuan has attracted a lot of of users. At the moment, China’s digital yuan testing is limited to the insignificant retail amount, although numerous reports suggested a larger roll-out. Earlier, there were some rumours that this type of cryptocurrency had been used for large amount transactions including housing property.
According to one version Shenzen received a large amount of money from a local bank after selling regional belongings. The statement suggested that the digital currency could not be turned into banknotes.
Anyway, city officials denied the case being true telling that digital yuan payments are small with no real plans to support large transactions. Now only limited pilot tests of digital yuan—officially the Digital Currency Electronic Process (DCEP) are allowed in Shenzhen, Chengdu, and the Hebei Province.