China’s central bank seeks to accelerate the development of its ‘legal digital currency’

China's central bank said that it plans to accelerate the research and development of its "legal digital currency", according to a statement issued by the People's Bank of China today. In July, the director of the bank's research bureau Wang Xin disclosed that the bank is looking into developing its own cryptocurrency in response to Facebook's Libra and its potential influence on global monetary policy.

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