China has previously called on major central banks to work together to ensure sovereign digital currencies are compatible with each other. Photo: Bloomberg
China digital currency: Biden administration steps up scrutiny of e-yuan over potential threat to US dollar dominance
- The People’s Bank of China (PBOC) has rolled out trial issuance of a digital yuan in cities across the country, putting it on track to be the first major central bank to issue a virtual currency
- Members of the US Congress have also been increasingly interested in a digital US dollar, and asked US Federal Reserve chair Jerome Powell and US Treasury Secretary Janet Yellen about the issue in hearings earlier this year
China has previously called on major central banks to work together to ensure sovereign digital currencies are compatible with each other. Photo: Bloomberg
