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Rise of sovereign digital currencies: domestic and global implications

Interest by central banks in issuing such currencies has partly been in response to greater competition from private cryptocurrencies.

While China's Digital Currency/ Electronic Payment appears to focus on domestic transactions, there have been suggestions it could also facilitate the internationalisation of the RMB.

THE launch of a central bank digital currency (CBDC) in China has been much anticipated especially following the first public test of a prototype in four Chinese cities (Shenzhen, Suzhou, Xiong'an New District and Chengdu), as well as the recent release of the Draft Law of the People's Bank of...

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