CHINA-ECONOMY
On January 22, 2016, the People's Bank of China (PBoC) announced that China intended to issue a digital currency as soon as possible. The move could help the yuan offset the global dominance of the US dollar and limit capital outflows. The bank said the currency could reduce the costs involved in circulating banknotes, facilitate economic activities and help combat money-laundering. A virtual currency would also help the bank improve control of the money supply and payment efficiency, it added.
|