Here’s a beautiful turn of phrase from a Chinese central bank executive talking about its forthcoming national digital currency: “controllable anonymity.”
China has spent five years preparing to launch the digital yuan, which might happen in a matter of months. But bankers and financial industry professionals surveyed at an industry conference in October still believe the United States will be the first to create a global digital currency.
A publication run by China’s ruling Communist Party has denied reports that the nation’s central bank is on the verge of launching a cryptocurrency.
Tether—with its sister company Bitfinex—may be in a heap of trouble in New York, but the stablecoin issuer is trying its hand at taking on another major currency: China’s yuan.