China’s yuan is not included in the underlying assets of Libra, and the People’s Bank of China has seemingly made progress in developing a sovereign digital currency. Photo: Reuters

China warned not to rush into creating digital currency to rival Facebook’s Libra, instead join global debate

  • China has fast tracked development of its sovereign digital currency, but a former central bank deputy governor has urged China to think about its response
  • Central banks from Canada, Britain, Japan, and Sweden, as well as the European Central Bank, this week joined forces to look at ‘cases for central bank digital currency’
Topic |   China economy
China’s yuan is not included in the underlying assets of Libra, and the People’s Bank of China has seemingly made progress in developing a sovereign digital currency. Photo: Reuters
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