The transformation of the global economy has begun💱

In the US state of Wyoming, a law has been passed that allows insurance companies to invest in “digital assets,” such as Bitcoin. The law comes into force on July 1.

The China National Digital Currency (DCEP) will go into circulation next month. This writes the local edition of China Star Market.

Crypto-yuan will initially be available in the province of Suzhou in the circles of civil servants who will receive 50% of the payments in the new asset for the transport subsidies due to them.

4 state banks will be involved in the issue of DCEP:

- Industrial and Commercial Bank of China

- China Construction Bank

- Agricultural Bank of China

- Industrial and Commercial Bank of China

The authorities have already obliged participants in the pilot program to conclude contracts for the issuance of crypto-yuan for their employees with the aforementioned banks. And employees need to get themselves special digital wallets to receive a new currency.

It is already known that at the initial stage seven institutions will be able to use the cryptocurrency yuan. Namely, the following:

- The largest banks in China (CCB, ICBC, BC, ABC),

- Alibaba and Tencent Corporation,

- payment system Union Pay.

As crypto yuan consolidates in the market, the number of companies that will use it will begin to gradually expand. It is also worth considering that the Chinese economy may soon become the world's leading.

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