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China digital currency: US ‘worried’ as it falls ‘behind the curve’ in race for financial technology innovation

Summary:
[unable to retrieve full-text content]China’s rapid development of its sovereign digital currency, the so-called digital yuan, is causing the United States to worry that it could fall behind in the race for financial technology innovation, analysts said.The digital yuan is one of the most advanced central bank digital currency (CBDC) initiatives in the world, with the People’s Bank of China having been conducting experiments and proceeding with tests for more than five years.And its potential success could not only mean a superior…

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[unable to retrieve full-text content]
China’s rapid development of its sovereign digital currency, the so-called digital yuan, is causing the United States to worry that it could fall behind in the race for financial technology innovation, analysts said.The digital yuan is one of the most advanced central bank digital currency (CBDC) initiatives in the world, with the People’s Bank of China having been conducting experiments and proceeding with tests for more than five years.And its potential success could not only mean a superior…

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