Beijing is preparing to launch its own cryptocurrency, a move that could potentially lead to greater state control. WSJ’s Steven Russolillo takes a look at official documents to find out more about China’s plans. (Jan. 2, 2020)
China’s central bank has introduced a homegrown digital currency across four cities as part of a pilot program, marking a milestone on the path toward the first electronic payment system by a major central bank.
Internal tests of the digital currency are being conducted in four large cities around China—Shenzhen, Suzhou, Chengdu and Xiong’an, a satellite city of Beijing—to improve the currency’s functionality, the digital currency research institute under the People’s Bank of China confirmed Monday