China has previously called on major central banks to work together to ensure sovereign digital currencies are compatible with each other. Photo: Bloomberg China has previously called on major central banks to work together to ensure sovereign digital currencies are compatible with each other. Photo: Bloomberg
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

Topic |   China digital currency
China has previously called on major central banks to work together to ensure sovereign digital currencies are compatible with each other. Photo: Bloomberg China has previously called on major central banks to work together to ensure sovereign digital currencies are compatible with each other. Photo: Bloomberg
China has previously called on major central banks to work together to ensure sovereign digital currencies are compatible with each other. Photo: Bloomberg
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