Fintech

China’s blockchain seen as a push for greater control

The PBOC's plans to issue a cryptocurrency to replace fiat currency is seen as a move to regulate cash flow and to clamp down further on shadow banking. A policy adviser also couldn't resist a swipe at Facebook's Libra.

The People's Bank of China could be the first central bank in the world to roll out its own cryptocurrency, director Huang Qifan from China Center for International Economic Exchanges said at a summit in Shanghai on Monday. 

¬ Haymarket Media Limited. All rights reserved.

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