Written by: 西枫westca
Proofread by: Ermat
According to Sina Finance on November 22, the Digital RMB App has been updated with changes to the wallet limit settings and an overall tightening and lowering of the amount.
The personal wallet system for digital RMB is divided into 5 categories depending on the degree of real name and authentication method. With this update, various banks have made adjustments to the limits, meaning that the overall single limit and cumulative daily limit for each type of account have been adjusted downward to varying degrees. Recently, the Mobile Payment network believes that digital RMB has been positioned in the small retail industry, and that excessive limits set within wallets can create opportunities for money laundering and fraud crimes. Communist China’s digital RMB began as a pilot testing in April 2020 and now covers 11 cities, opening more than 20 million personal wallets and more than 3.51 million public wallets. The CPC’s digital RMB is a legal good identical to the physical RMB. The right to issue it belongs to the state.
The adjustment of this wallet limit setting is clearly playing for the good of the people to prevent the risk of telecom fraud, but the essence is still to control the money bag. The common people’s money cannot belong to themselves. You can’t decide how you want to spend, not by your own decision. Under the totalitarian rule of the CCP, similar incidents will continue to occur, and the will of individuals will eventually cease to exist.
Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.