News Snapshot:
The Chinese digital currency is undergoing internal tests, according to the deputy head of the Chinese Central Bank, Fan Yifei. However, a crypto yuan’s exact release date remains unknown. According to Fan, thorough testing in limited scenarios are needed to ensure the new product’s stability. Cryptocurrencies have become one of the fastest growing assets this year. According to the Xinhua News Agency, the Bloomberg Galaxy cryptocurrency index has risen by 65%. For comparison, gold, the second-most profitable asset, has risen by a quarter. At the same time, Beijing has not yet legalised traditional decentralised cryptocurrencies; developing the digital yuan instead....
