Doubts over the application and usage of digital currencies in China have cast a shadow over Beijing’s plan to start a groundbreaking sovereign digital currency, suggesting the official launch could be much later than expected. The People’s Bank of China (PBOC) was among the first major central bank to study a sovereign digital currency, with its affiliated digital currency institute having stepped up rhetoric about its “digital currency electronic payment” scheme after Facebook unveiled a plan in June 2019 to launch its digital currency, Libra, which would be backed by a basket of currencies However, enthusiasm is ... (full story)