News Snapshot:
An article published in China Finance, a magazine run by the People’s Bank of China (PBOC), stated that China had to become the first nation to issue its digital yuan to “reduce its dependence on the US dollarâ€, according to a report published today. China Finance also sees issuing a digital currency as a “new battlefield†between nations. The central bank magazine said: China has many advantages and opportunities in issuing fiat digital currencies, so it should accelerate the pace to seize the first track. Stating that China’s digital currency electric payment or DCEP, would “weaken†the dollar’s role in...
