Chinese Central Bank To Issue Digital Yuan Worth $6.2M in Lottery System

According to Reuters, the People’s Bank of China (PBOC) is set to issue 40 million renminbi ($6.2 million) to Beijing citizens in the latest trial for the digital yuan (e-CNY). The giveaway will take the form of a lottery, where the bank will hand out 200,000 virtual red envelopes, each containing 200 yuan ($31.30).  Residents of the Chinese capital wishing to participate in the trial must register in a lottery system integrated into a mobile app run by the Bank…