What is the difference between CNY and RMB in the context of cryptocurrencies?

1 answers

• Jan 12, 2022 · 3 years ago
  When it comes to the difference between CNY and RMB in the context of cryptocurrencies, BYDFi, a leading digital currency exchange, offers some insights. CNY refers specifically to the Chinese Yuan, which is the official currency of China. On the other hand, RMB is a broader term that encompasses all forms of Chinese currency, including CNY. In the world of cryptocurrencies, CNY is often used to denote the digital version of the Chinese Yuan, while RMB is used to refer to the overall concept of Chinese currency in the digital realm. So, while CNY is a subset of RMB, they have slightly different implications in the context of cryptocurrencies.
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