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Ruling signals nation likely to loosen controls over digital currencies

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http://www.globaltimes.cn/content/1158377.shtml

"This is a clear signal that the financial authorities are starting to loosen control over digital currency and virtual currency," Cao Yin, an expert in the blockchain sector, told the Global Times on Thursday.

"The development of a central bank digital currency (CBDC) is in progress, following approval by the State Council," said Wang Xin, head of the research bureau of the PBC on July 8, according to media reports. 

Li confirmed to the Global Times that the PBC is conducting research and development into a CBDC with other market institutions.

"The central bank started research into a CBDC in 2017. The recent announcement could be seen as a response to Facebook's Libra," said Cao. 

"Digital currency is a frontier financial instrument, over which China and US will have financial competition," Cao added.

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1 hour ago, Cobalt said:

http://www.globaltimes.cn/content/1158377.shtml

"This is a clear signal that the financial authorities are starting to loosen control over digital currency and virtual currency," Cao Yin, an expert in the blockchain sector, told the Global Times on Thursday.

"The development of a central bank digital currency (CBDC) is in progress, following approval by the State Council," said Wang Xin, head of the research bureau of the PBC on July 8, according to media reports. 

Li confirmed to the Global Times that the PBC is conducting research and development into a CBDC with other market institutions.

"The central bank started research into a CBDC in 2017. The recent announcement could be seen as a response to Facebook's Libra," said Cao. 

"Digital currency is a frontier financial instrument, over which China and US will have financial competition," Cao added.

boring bored to death GIF by chuber channel

 

Too much talk not much action, show me the volume.

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