China’s Digital Yuan Is No Threat to US Dollar, Says Bank of Japan Official: Report
“The dollar’s status as the key global currency won’t change so easily,” BOJ’s head of payments told Bloomberg.
China’s reiterated crypto ban sharpens the focus on the financial sector.
The new digital yuan wallet will require users’ biometric information to enable payments.
Central bank digital currencies will one day be more "smart," and not merely digital versions of cash, Yao Qian said.
The Alibaba-affiliated company disclosed the information over the weekend at the Digital China Summit in Fuzhou.
The deputy governor said bitcoin and stablecoins were investment options and not currency during the Boao Forum on Sunday.