Rich Turrin P0muKD

China’s Digital Yuan Could Challenge the USD’s Dominance, CNBC Expert Says

Richard Turrin – Financial Technology Consultant at CNBC – argued that the Chinese central bank digital currency could challenge the dominance of the American dollar this decade. Specifically, he believes the e-yuan might replace its rival as the currency of choice in international trade settlements.
Digital Yuan to Reduce the Dollar’s Usage?
The Chinese government is known for having one of the most hostile stances on private cryptocurrencies. Last year, the authorities imposed a total ban on all digital asset endeavors, while monetary organizations and payment companies were also prohibited from facilitating crypto transactions.
On the other hand, the country has an entirely different viewpoint on central bank digital currencies. Over the past several months, the most populated nation introduced numerous initiatives to popularize its e-yuan and implement it among the broader society.
According to Richard Turrin – a financial expert at CNBC – China is “ahead in all financi

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