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Digital Yuan
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Analysis of the Current State of China’s Software Trading Platforms and the Application of Legal Tender in Transactions
This article provides an in-depth analysis of the current state of China’s software trading market, noting that there is currently no single “largest” general-purpose software trading platform and that the market is becoming increasingly specialized. At the same time, it provides a detailed analysis of legal currency trading applications in mainland China—including the Digital Yuan app—as well as the compliance issues and risks associated with foreign exchange and cryptocurrency trading, emphasizing China’s strict restrictions on foreign exchange trading and its explicit ban on cryptocurrency trading.
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An In-Depth Analysis of the Digital Yuan (e-CNY): The Current Status and Development of China’s Legal Digital Currency
The Digital Yuan (e-CNY) is a legal tender digital currency issued by the People's Bank of China (PBOC). As a digital version of the yuan, it is primarily used as cash in circulation (M0). It employs a two-tier operational system, supports offline-to-offline payments and controlled anonymity, and aims to enhance financial inclusion, improve payment efficiency, and promote the internationalization of the yuan.As of the end of November 2025, the cumulative transaction volume of the digital yuan had reached 16.7 trillion yuan. It has been extensively piloted in 17 provinces and municipalities across the country, gradually integrating into daily economic life, and in early 2026, it entered the era of interest-bearing “digital deposit currency.”
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What is BSN? It is not a cryptocurrency, but there is a token with the same name.
BSN (Blockchain-based Service Network) primarily refers to the blockchain service network led by the China National Information Center. It is an infrastructure platform designed to reduce the cost of developing blockchain applications and does not issue any cryptocurrency. However, there are also a few cryptocurrency projects on the market with low market capitalizations that are unrelated to this network but happen to use “BSN” as their token symbol, such as Big Search Network Token and Blockswap Network. This article will provide a detailed distinction between these two types of “BSN.”
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Several banks, including the Industrial and Commercial Bank of China and the Agricultural Bank of China, support the offline payment code feature in the Digital Yuan app.
Svmuu News: The Digital Renminbi Operations and Management Center announced that the digital renminbi wallets of the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of Commun
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10x Research: Bitcoin—The True Investment Logic May Lie in Space Infrastructure and Decentralized Computing
Svmuu News: 10x Research released a report stating that while the market generally believes the core value of Bitcoin lies in hedging against currency devaluation, this is not its true investment rati
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Policy Interpretation and Risk Warnings Regarding Virtual Currency Trading in Mainland China
Regulatory policies regarding virtual currencies in mainland China have continued to tighten, explicitly prohibiting business activities related to virtual currencies. Since 2013, multiple agencies—including the People's Bank of China (PBOC)—have issued numerous documents emphasizing that virtual currencies do not have the status of legal tender and cannot be used as currency in circulation.Any organization or individual engaging in the issuance, trading, financing, or provision of related services involving virtual currencies within China is engaging in illegal financial activities and will face legal risks. Although the personal holding of virtual currencies is not illegal in itself, participating in transactions or providing related services may violate the law. Currently, the People’s Bank of China is actively promoting its central bank digital currency—the Digital Yuan (E-CNY).
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People's Bank of China (PBOC) Draft Amendment to the Law Aims to Clarify the Legal Status of the Digital Yuan
Svmuu News: The “Law of the People’s Republic of China on People's Bank of China (PBOC) (Revised Draft)” was submitted for its first review at the 23rd Session of the Standing Committee of the 14th Na
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Central Bank: Build and Operate Cross-Border, Offshore, and Blockchain Infrastructure for the Digital Yuan Under Safe and Controlled Conditions
Svmuu News: The People's Bank of China (PBOC), the National Development and Reform Commission, the National Financial Regulatory Administration, the China Securities Regulatory Commission, and the Sta
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Digital Yuan International Operations Center: Upgrades Three Major Platforms—Blockchain Services, Digital Assets, and Others—to “Shu Bi Da”
Svmuu News: The Digital Renminbi International Operations Center announced that, following adjustments to the digital renminbi measurement framework and an upgrade to the overall architecture of the i
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Several banks, including the Industrial and Commercial Bank of China and the Agricultural Bank of China, support the offline payment code feature in the Digital Yuan app.
Svmuu News: The Digital Renminbi Operations and Management Center announced that the digital renminbi wallets of the Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of Commun
-
10x Research: Bitcoin—The True Investment Logic May Lie in Space Infrastructure and Decentralized Computing
Svmuu News: 10x Research released a report stating that while the market generally believes the core value of Bitcoin lies in hedging against currency devaluation, this is not its true investment rati
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People's Bank of China (PBOC) Draft Amendment to the Law Aims to Clarify the Legal Status of the Digital Yuan
Svmuu News: The “Law of the People’s Republic of China on People's Bank of China (PBOC) (Revised Draft)” was submitted for its first review at the 23rd Session of the Standing Committee of the 14th Na
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Central Bank: Build and Operate Cross-Border, Offshore, and Blockchain Infrastructure for the Digital Yuan Under Safe and Controlled Conditions
Svmuu News: The People's Bank of China (PBOC), the National Development and Reform Commission, the National Financial Regulatory Administration, the China Securities Regulatory Commission, and the Sta
-
Digital Yuan International Operations Center: Upgrades Three Major Platforms—Blockchain Services, Digital Assets, and Others—to “Shu Bi Da”
Svmuu News: The Digital Renminbi International Operations Center announced that, following adjustments to the digital renminbi measurement framework and an upgrade to the overall architecture of the i
-
Analysis of the Current State of China’s Software Trading Platforms and the Application of Legal Tender in Transactions
This article provides an in-depth analysis of the current state of China’s software trading market, noting that there is currently no single “largest” general-purpose software trading platform and that the market is becoming increasingly specialized. At the same time, it provides a detailed analysis of legal currency trading applications in mainland China—including the Digital Yuan app—as well as the compliance issues and risks associated with foreign exchange and cryptocurrency trading, emphasizing China’s strict restrictions on foreign exchange trading and its explicit ban on cryptocurrency trading.
-
An In-Depth Analysis of the Digital Yuan (e-CNY): The Current Status and Development of China’s Legal Digital Currency
The Digital Yuan (e-CNY) is a legal tender digital currency issued by the People's Bank of China (PBOC). As a digital version of the yuan, it is primarily used as cash in circulation (M0). It employs a two-tier operational system, supports offline-to-offline payments and controlled anonymity, and aims to enhance financial inclusion, improve payment efficiency, and promote the internationalization of the yuan.As of the end of November 2025, the cumulative transaction volume of the digital yuan had reached 16.7 trillion yuan. It has been extensively piloted in 17 provinces and municipalities across the country, gradually integrating into daily economic life, and in early 2026, it entered the era of interest-bearing “digital deposit currency.”
-
What is BSN? It is not a cryptocurrency, but there is a token with the same name.
BSN (Blockchain-based Service Network) primarily refers to the blockchain service network led by the China National Information Center. It is an infrastructure platform designed to reduce the cost of developing blockchain applications and does not issue any cryptocurrency. However, there are also a few cryptocurrency projects on the market with low market capitalizations that are unrelated to this network but happen to use “BSN” as their token symbol, such as Big Search Network Token and Blockswap Network. This article will provide a detailed distinction between these two types of “BSN.”
-
Policy Interpretation and Risk Warnings Regarding Virtual Currency Trading in Mainland China
Regulatory policies regarding virtual currencies in mainland China have continued to tighten, explicitly prohibiting business activities related to virtual currencies. Since 2013, multiple agencies—including the People's Bank of China (PBOC)—have issued numerous documents emphasizing that virtual currencies do not have the status of legal tender and cannot be used as currency in circulation.Any organization or individual engaging in the issuance, trading, financing, or provision of related services involving virtual currencies within China is engaging in illegal financial activities and will face legal risks. Although the personal holding of virtual currencies is not illegal in itself, participating in transactions or providing related services may violate the law. Currently, the People’s Bank of China is actively promoting its central bank digital currency—the Digital Yuan (E-CNY).
Digital Yuan
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Claiming Social Security benefits at age 62 instead of 67 can reduce monthly payments by 30%, potentially costing average retirees $150,000 over 20 years.
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