Hallelujah, it's raining . . . crypto? China has airdropped its digital yuan to thousands of local residents. This and crypto news from Apple, Binance, and our own Market Report.
You’ve heard of helicopter money before. Well, the city of Shenzhen is making it a reality by to local residents in an effort to boost consumer spending. To qualify for the airdrop, locals must register with the food delivery app Mietuan Dianping. If selected, they’ll have the ability to spend their digital yuan at more than 15,000 merchant terminals. For better or worse, you’re getting a glimpse into how governments will use central bank digital currencies to achieve macroeconomic objectives.
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