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China’s central bank stresses its central role in new sovereign digital currency

Summary:
[unable to retrieve full-text content]China is developing a sovereign digital currency with the primary goal of defending the state’s monopoly on minting money, meaning the central bank will play a central role in the issuance and circulation of a digitised yuan, a deputy governor at the People’s Bank of China (PBOC) has written.PBOC deputy governor Fan Yifei published an article in the bank’s Financial News newspaper arguing that creating money was the sole responsibility of a central bank and China’s digital currency will fall…

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[unable to retrieve full-text content]
China is developing a sovereign digital currency with the primary goal of defending the state’s monopoly on minting money, meaning the central bank will play a central role in the issuance and circulation of a digitised yuan, a deputy governor at the People’s Bank of China (PBOC) has written.PBOC deputy governor Fan Yifei published an article in the bank’s Financial News newspaper arguing that creating money was the sole responsibility of a central bank and China’s digital currency will fall…

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