Governor of the People's Bank of China (PBOC) Yi Gang poured cold water on prospects of an imminent launch of Beijing’s own digital currency. Photo: REUTERS
China has ‘no timetable’ for launch of its digital currency, says central bank governor
- People’s Bank of China head Yi Gang says a series of regulatory issues need to be addressed before Beijing can issue sovereign digital currency
- China is the first major economy to explore launching its own digital currency
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China economy
Governor of the People's Bank of China (PBOC) Yi Gang poured cold water on prospects of an imminent launch of Beijing’s own digital currency. Photo: REUTERS
Facebook planning to launch Libra next year. Photo: Reuters
China appoints new digital currency head as race with Facebook’s Libra heats up
- Mu Changchun will replace Yao Qian as the head of the People’s Bank of China’s research subsidiary on digital currency
- Facebook is planning to launch Libra next year, with some suggesting it could strengthen the US dollar’s dominance and sabotage China’s ambition for the yuan
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China economy
Facebook planning to launch Libra next year. Photo: Reuters