China prohibits cryptocurrency fundraising and trading platforms out of fear of stoking financial instability. Photo: Reuters China prohibits cryptocurrency fundraising and trading platforms out of fear of stoking financial instability. Photo: Reuters
China prohibits cryptocurrency fundraising and trading platforms out of fear of stoking financial instability. Photo: Reuters

China digital currency: could backing bitcoin as an investment help promote its sovereign digital currency?

  • Chinese officials have endorsed the use of cryptocurrencies as investments but not as mediums of exchange, due to fear of stoking financial instability
  • However, financial authorities appear eager to use cryptocurrency research and blockchain technology for development of the sovereign digital yuan

Topic |   China digital currency
China prohibits cryptocurrency fundraising and trading platforms out of fear of stoking financial instability. Photo: Reuters China prohibits cryptocurrency fundraising and trading platforms out of fear of stoking financial instability. Photo: Reuters
China prohibits cryptocurrency fundraising and trading platforms out of fear of stoking financial instability. Photo: Reuters
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