China Readies State-Controlled Digital Currency

The Epoch Times

As much as Beijing heaves vitriol on cryptocurrencies – having banned all exchanges, issuers and miners – it has no qualms about introducing its own.

The People’s Bank of China has been secretly working on its own version of digital currency for years, and reports indicate that its state-controlled central bank digital currency (CBDC) could be released as early as this year. Citing insiders, a Forbes report gives a launch date of Nov. 11, which also happens to be "Singles Day," China’s biggest online shopping day of the year.

In essence, Beijing has thrown down the gauntlet in...