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China wants to weaponize its currency. A digital version could help
China wants to break the US dollar's stranglehold on the global financial system and gain greater control over how people spend their money. It's hoping a digital currency could deliver both. After years of preparation, the country began rolling out an ambitious test of a digital version of the yuan earlier this year. Pilots exist now in four Chinese cities, where transactions totaling more than 2 billion yuan ($300 million) have already taken place. If the program is expanded nationwide, China would become the most powerful economy yet to offer a national digital currency, beating a forthcoming digital version of ... (full story)
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