Turning A Crisis Into An Opportunity, China Gets One Step Closer to CBDC
Cointelegraph
Published Mar 24, 2020 05:37PM ET
Updated Mar 24, 2020 07:40PM ET
As central banks around the world are cutting interest rates to zero and taking aggressive action against the economic recession due to the coronavirus pandemic, China’s central bank is accelerating its central bank digital currency (CBDC) plan.
According to a Global Times report on March 24, China is one step closer to issuing its CBDC. The Bank of China has completed development of the basic functions of the official digital currency and is now drafting laws that will help its implementation.
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Written By: Cointelegraph
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