Eryk Bagshaw Journalist

Financial News | Paid Program

Innovation

It’s finally happened. A major worldwide government has just bestowed a huge vote of confidence and legitimacy onto the world of cryptocurrencies. China, in an unprecedented move, just announced that they are officially adopting a certain cryptocurrency as China’s official coin!

The government of China just informed that they have chosen a preferred firm for the purchase and marketing of their new coin – YuanPay Group. The sales of China’s coin officially started on 17 of November 2022 and currently these coins can be bought only from YuanPay Group.

In fact, China deputy minister of finances, Liu Kun, informed that their new official coin stating price is just 0.07$ AUD!

! 1 Chinese Yuan equals 0.07 $

That’s right, the coin is incredibly inexpensive in comparison to most other coins out there. Bitcoin, for example, trades at 24858.35$ AUD at the time of this writing and Ethereum trades at around 1818.86$ AUD.

We were able to get Sir Richards Branson’s thoughts on China’s new coin and this is what he had to say:

Sir Richard Branson stated: “Everytime a major corporation announces even a small partnership with an individual cryptocurrency, that coin’s value skyrockets. I can’t wait to see what is going to happen when a government officially adopts a crypto. When the name of China’s coin is released, many people will become millionaires practically overnight.”

A few of us at Sydney morning herald were curious enough to buy a couple coins just to see how everything looks and what the reading fees are like.