China’s Central Bank is Already Testing Its Own National Digital Currency

According to a paper published in the academic journal Tsinghua Financial Review and online, the People’s Bank of China (PBoC), China’s central bank, is currently testing its own national digital currency with fake transactions between it and some of the country’s commercial banks. Since the central bank is seemingly proceeding with caution there is no set timetable for the deployment of the currency, and its plan, according to officials, is to issue it alongside the Chinese Yuan.

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