Recently the top Securities and Exchange Commission has officially said that Digital yuan planned by China will not topple the dollar while citing the overall growth of the so-called stable-coins that are backed by the greenback.
The biggest central banks of the world, like the People’s Bank of China and the other US Federal Reserve, are now stepping up to work on issuing the digital cash, seeing improvements to the payment systems, and also looking to promote the rise of the cryptocurrencies.
However, the PBOCs are also working on the digital yuan to make it a part of international currency as it is is far ahead of the similar initiatives in other economies of the world.
