US Rattled By China’s Move to Develop E-yuan

The United States government has been rattled by China’s push to develop a digital alternative to its currency yuan. Bloomberg reported that the Biden administration is stepping up scrutiny of China’s plans for a digital yuan, with some officials concerned the move could kick off a long-term bid to topple the dollar as the world’s dominant reserve currency, according to people familiar with the matter. Recently, China has increased efforts on many fronts to put the digital yuan in circulation as soon as possible. Now that China’s digital-currency efforts are gathering momentum, officials at the Treasury, State Department, Pentagon and … Continue reading US Rattled By China’s Move to Develop E-yuan