China’s Cryptocurrency 'protects' Legal Currency Yuan: Central Bank Official

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China's incipient digital currency will apparently "bear similarities" to Facebook's own proposed cryptocurrency and is intended to protect China's 'monetary sovereignty', according to a superior within China's central bank. Relaying the several key attributes of China's new central bank digital currency (CBDC) Mu Changchun, deputy director of the People’s Bank of China’s payments department, elaborated […]

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