In the news: Digital currencies – development and disruption

China pushes on with its digital currency, while Australia's regulator intends to support innovative crypto products, but also warns against scams
by Bethan Rees

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China requires the support of big tech companies for its digital yuan plan to be successful, according to an article by GlobalData Thematic Research for Verdict. The Chinese government has been working with state banks to create the digital currency since 2014. It will form part of the government's effort to "assert its dominance globally and rival the US dollar as the reserve currency", says the article.

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Published: 30 Apr 2021
Categories:
  • Risk
  • Fintech
  • International regulation
  • Corporate finance
Tags:
  • CBDC
  • central bank digital currency
  • Regulation
  • cryptocurrency
  • China
  • blockchain
  • Australia

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