As China pushes its digital currency plans, the US falls behind
China’s digital yuan has been piloted in 15 provinces and tested across a multinational financial network. Meanwhile, the US is still developing a digital currency, endangering the dollar’s place as the world’s reserve currency and opening the door for China to set digital cash privacy standards.
China’s digital yuan project, a blockchain-based cryptocurrency for consumer and commercial finance, can no longer be considered a pilot. That’s the assessment by economic and cryptocurrency experts.
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