News Snapshot:
China is keen on using evolving blockchain technology that underpins cryptocurrencies to help build its digital economy and quicken adoption of its sovereign digital currency, analysts say, while avoiding the risks that decentralised virtual networks pose to the financial system. Chinese policymakers have recently ruled out cryptocurrencies as mediums of exchange but tacitly supported them as investment vehicles – as long as they serve the real economy and are not purely speculative. Growing mainstream acceptance of cryptocurrencies for investment may even boost interest in China’s fintech landscape, including its sovereign digital currency, the so-called Digital Currency Electronic Payment (DCEP) ,...
