New Head of China’s Digital Currency Says It Beats Facebook Libra on Tech Features
The PBoC's new digital currency chief has said its upcoming digital yuan has features not offered by Facebook Libra.
Libra must abide by international foreign exchange regulations to not enable illegal transfers or “it should be banned,” a senior Chinese regulator said Monday.
A Chinese central bank official has called on commercial banks to adopt blockchain technology in digital finance.
The People's Bank has said blockchain is a solution to trade finance asymmetries in the latest promotion of the tech in China.
David Marcus, who leads the Libra project, said China will create a digital currency system that could be entirely out of reach for U.S. authorities.
China's central bank has played down reports that it will issue its digital yuan in November through major banks and companies.