China Drafts Law to Legalize Digital Yuan, Outlawing Competitors

China Drafts Law to Legalize Digital Yuan, Outlawing Competitors

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China Drafts Law to Legalize Digital Yuan, Outlawing Competitors

China’s central bank, the People’s Bank of China (PBOC), has drafted a law to legalize the digital yuan and outlaw digital currencies issued by anyone else competing with it. Meanwhile, the central bank has been cracking down on gambling sites that use the stablecoin tether.

China Drafts Law to Recognize Digital Yuan

The People’s…

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