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In July 2021, the People’s Bank of China released a white paper detailing the current workings of the digital yuan, also referred to as the e-CNY. These insights point to increased usage flexibility at the potential cost of privacy. Even foreigners traveling in China can have access to digital yuan without a domestic bank account. This is a particular benefit given the difficulties that foreigners have had using popular digital services like WeChat Pay and AliPay. The PBOC reiterated its tight control of digital yuan with the right to issue the digital currency.