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The central bank has released the new version of the "Renminbi Cross-Border Payment System Business Rules," specifying the inclusion of the Digital Currency Research Institute in the scope of notification
By: theblockbeats.news|2025/12/26 17:46:03
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BlockBeats News, December 26, the People's Bank of China recently released the "RMB Cross-border Payment System Business Rules" (YinFa [2025] No. 248), which will be implemented starting from February 1, 2026, replacing the 2018 version of the rules. The notice clearly designates the "Digital Currency Research Institute" as one of the notified parties, alongside institutions such as the National Development Bank, commercial banks, and the clearing house.
The new rules clarify the operation framework and business processing flow of the Cross-border Interbank Payment System (CIPS), stipulating that CIPS should support a hybrid settlement model, including real-time gross settlement and deferred net settlement, and be able to support "RMB payment, RMB cross-border foreign currency simultaneous settlement (PvP), Delivery versus Payment (DvP) settlement, central counterparty centralized clearing, and other cross-border RMB transaction settlement businesses".
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