American Open Currency Standard was Chair of the Committee. American Open Currency Standard American Open Currency Standard (AOCS) is a non-profit organization opposed to fiat money and wishing to expedite the use of metal as money. In accordance with its mission, AOCS grants approval to new currencies, helps new currency issuers to establish brand identity, and encourages merchants to accept AOCS-approved currencies. AOCS was started in 2007 by Robert Gray, who was formerly a Regional Currency Office for Liberty Dollar and is currently the Executive Director of AOCS. Robert Gray testified before the United States House Financial Services Subcommittee on Domestic Monetary Policy and
Yuan (currency) market, the Chinese yuan (CNY) refers to the renminbi (RMB), which is the official currency used in mainland China. Having been in use for at least 2000 years, the yuan was the first decimal currency system. It is also the first to use metal coins and bank notes, which significantly shaped the global financial system. In Standard (Mandarin) Chinese, "yuán" literally means a "round object" or "round coin". During the Qing Dynasty, the yuan was a round coin made of silver. In informal contexts, the word is written with the simplified Chinese character , that literally means "beginning". In formal