Share:China's latest regulations on cryptocurrencies aim to eliminate competition with Beijing's new digital currency, the digital yuan, an expert told Anadolu Agency on Friday. "China's crypto ban will effectively divide that country's crypto currencies holders," Lesperance said. Old paper-based solutions are not fit for a digital world, and central bank fiat currencies are no exception to this. Lesperance said the move from physical to digital currency is accelerating. "Some countries such as the US will use a central bank digital currency (CBDC) as a means of protecting its reserve currency status.

Source: The Nation October 01, 2021 14:03 UTC