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This article provides a holistic overview on China’s digital currency, as China is increasingly operating on a cashless basis.

With the advent of Digital Currency Electronic Payment (DCEP or “digital yuan”), this overview provides answers to the following questions: (1) what is China’s digital currency?; (2) what are the laws regulating China’s digital currency?; (3) [What are the] Advantages of a digital currency; (4) What are the key differences between China’s digital currency and other payment methods?; (5) How does China’s digital currency work?; (6) [What is the] Status of the DCEP pilot programs; (7) DCEP and cross-border payment; (8) Transparency, Data Protection, and Cybersecurity; and (9) [What are the] Key implications for foreign businesses and financial institutions in China.

Authors: Betty L. Louie, Partner, Technology Companies Group, Mergers & Acquisitions, and Martha Wang, Associate, Mergers & Acquisitions, Corporate, Orrick

6 Pages
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Region: China
Interest Area: Government, Financial Services
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