Expiry date with digital Yuan

[Yugocean]

China has revealed that CBDC (digital yuan) comes with expiry date, so people cannot save for any future use, they just have to spend it, and it will vanish after expiry date
Now the problem is? Will even a shopkeeper accept such money?

 

[Sanjeev]

I don't think any one would like to accept such currency.

 

[Yugocean]

I don't think any one would like to accept such currency.

And that is also increasing economic problem in china.

 

[fcbetting]

Do they offer exchange for paper yuan?

 

[Yugocean]

Do they offer exchange for paper yuan?

In Bank might be , otherwise how it is going to work? Yuan is Yuan.

 

[Golden9]

This policy would combat money laundering. People will also start avoiding savings and might increase investing instead.

 

[Yugocean]

This policy would combat money laundering. People will also start avoiding savings and might increase investing instead.

And who will accept such crypto that will vanish after deu date?

 

[Shavkat]

That is a weird scheme for China to do. It shows that they wanted to gain profit with the expiration date. That is how it works, but I will not use their currency. It is like phishing people and impose this new rule.

 

[Yugocean]

That is a weird scheme for China to do. It shows that they wanted to gain profit with the expiration date. That is how it works, but I will not use their currency. It is like phishing people and impose this new rule.

This rule was since last year, but unconfirmed, now there are some confirmation source, so digital yuan is a flop show.

 

[cherry123]

China has revealed that CBDC (digital yuan) comes with expiry date, so people cannot save for any future use, they just have to spend it, and it will vanish after expiry date
Now the problem is? Will even a shopkeeper accept such money?

What a law? So you would just have money and you find out it has expired. So what happened next you throw it away?

 

[Yugocean]

What a law? So you would just have money and you find out it has expired. So what happened next you throw it away?

It will disappear, China already having public backlash.

 

[LoukiaCharilaou]

This is very strange. I haven't heard about that. I think that people will not accept such currency.

 

[cherry123]

This is very strange. I haven't heard about that. I think that people will not accept such currency.

If it will not favor them then no need for accepting that.

 

[flower]

This is really a funny development because I do not understand the reason why the government of China will attach expiring date to a digital money.