News Snapshot:
Print NEW DELHI: With cyber yuan, the Chinese government has reportedly created a digital currency controlled by its central bank. With credit cards and payment apps, money dealings are already some sort of virtual. But now, China is turning legal tender itself into computer code, The Wall Street Journal (WSJ) reported on Tuesday. By design, the digital yuan will negate one of bitcoin’s major draws: anonymity for the user, it added. Central banks across the world, including the People’s Bank of China (PBOC), are looking at developing digital currencies that could play a role in making domestic and international payments...
