News Snapshot:
Given the ongoing testing phase of the digital yuan in China, a senior official at China’s state-owned bank stressed the need for new laws and regulations to alleviate privacy concerns and clarify how it works. Wang Jingwu, vice president and chief risk officer of the Industrial and Commercial Bank of China, pointed out that the People’s Bank of China (PBoC) can follow a digital yuan transaction chain from issuance to circulation. Operating agencies can also follow the channel at some level. Writing a white paper (via Bloomberg) in the China Financial Journal, Jingwu, who is also a deputy to the...
