China plans developing own digital currency to counter Libra

China plans developing own digital currency to counter Libra

China’s central bank is reportedly developing its own digital currency in response to Facebook’s Libra. Wang Xin, director of the People’s Bank of China (PBoC) research bureau, argued that if the digital currency (Libra) ’is closely associated with the US Dollar’, it would in essence establish the US as a ’boss’ in the space which could have an influence on the international monetary system.

Timothy
Timothy
Rational ific
Rational ific 1 year

China's government is a lot like Facebook, only less censorious and less power-hungry. Good to see the monetary system in their hands.

RaxMEMES
RaxMEMES 1 year

LOL can't wait to see WeChat crypto currency.

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