China Should Prepare Digital Yuan to Counter Facebook Libra: Ex-PBoC Chief

Faced with the possibilities and threat posed by Facebook’s Libra cryptocurrency project, China’s central bank should rethink its plan for a national digital currency, according to its former head. As reported by the South China Morning Post, former People’s Bank of China (PBoC) governor Zhou Xiaochuan said at an event in Beijing this week that, with […]

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Anti-Crypto Central Bank Worried Cash Losing Relevance

According to a newly released report by the FT, the adoption of digital payment systems is increasing at such a rapid rate that the People’s Bank of China (PBoC) is concerned about the declining relevance of cash. An increasing number of merchants at tourist spots have started to stop accepting cash, solely relying on applications […]

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