China Launches Digital Yuan as U.S, Other Countries Lag Behind

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The Street

By Rob Lenihan The arrival of the e-CNY is the latest chapter in China’s rocky history with cryptocurrency. As athletes from around the world converge on Beijing to compete in the Winter Olympics, China used the occasion to debut the digital Yuan. The arrival of the e-CNY is the latest chapter in China’s rocky history with cryptocurrency. In June 2021, Chinese officials renewed a crackdown on the cryptocurrency industry, with authorities in China’s Sichuan province, once one of the country’s biggest mining centers, ordering crypto miners to shut down operations. ‘First Mover’ AdvantagesIn earl…

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