China Readies State-Controlled Digital Currency

‘Digital yuan’ poses huge challenges to privacy and Western banking hegemony

U.S. Dollar and China Yuan notes on a picture illustration on June 2, 2017. Reuters/Thomas White/Illustration/File Photo

News Analysis

As much as Beijing heaves vitriol on cryptocurrencies—having banned all exchanges, issuers, and miners—it has no qualms about introducing its own.