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China FX regulator says CBDC features could improve monetary policy
A Chinese foreign exchange regulator official said "programmable features" of a central bank digital currency (CBDC) could help enhance the effectiveness of monetary policy tools, state media reported on Friday. China is among a host of countries developing their own CBDCs - digital tokens issued by central banks - although adoption is still in its early stages. Currently, CBDCs are mostly being positioned as M0 currency, or cash in circulation. Lu Lei, deputy administrator of the State Administration of Foreign Exchange (SAFE) told a forum on Thursday that central banks could make CBDCs M2 currency, which includes ... (full story)