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Thinking About China
Opinion

China’s Sovereign Cryptocurrency: A Pipe Dream or a Draconian Movement Toward Totalitarianism?

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China’s Sovereign Cryptocurrency: A Pipe Dream or a Draconian Movement Toward Totalitarianism?
A cryptocurrency mining computer equipped with cooling fans is displayed at a computer mall in Hong Kong, China on May 17, 2018. Bobby Yip/Reuters
Antonio Graceffo
Antonio Graceffo
9/15/2021|Updated: 12/20/2021
News Analysis

A number of articles have claimed that China is the first country to launch a sovereign cryptocurrency, but this is not exactly true.

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Antonio Graceffo
Antonio Graceffo
Author
Antonio Graceffo, Ph.D., is a China economy analyst who has spent more than 20 years in Asia. Graceffo is a graduate of the Shanghai University of Sport, holds an MBA from Shanghai Jiaotong University, and studied national security at American Military University.
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cryptocurrency
the digital yuan
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