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Home / Mike Norman Economics / China Moves To Legalise Digital Yuan, Ban Competitors — Frank Tang

China Moves To Legalise Digital Yuan, Ban Competitors — Frank Tang

Summary:
People’s Bank of China stipulates for the first time that the digital yuan will be allowed to circulate and be converted like physical currencyHead of central bank’s digital currency research institute admits potential problems with digital yuan, but says they reinforce need for central bank oversightSCMPChina Moves To Legalise Digital Yuan, Ban CompetitorsFrank Tang

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  • People’s Bank of China stipulates for the first time that the digital yuan will be allowed to circulate and be converted like physical currency
  • Head of central bank’s digital currency research institute admits potential problems with digital yuan, but says they reinforce need for central bank oversight
SCMP
Frank Tang
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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