Tag Archives: China

China Guarantees Citizens On-Demand Anonymity With State Digital Currency

China has brushed aside concerns that its planned government-backed crypto will be used to keep tabs on the activities of its citizens. Allegedly, users of the centralized digital currency will be guaranteed ‘controllable anonymity’ as long as they are not engaging in illegal activities. This is according to the head of the digital currency research institute at the People’s Bank of China, Mu Changchun. Continue reading China Guarantees Citizens On-Demand Anonymity With State Digital Currency

Zuckerberg Spins Congress: Back Facebook Cryptocurrency or Let China Win

Mark Zuckerberg will appear before Congress on Wednesday to defend Facebook’s controversial ‘cryptocurrency’ project, Libra. In his prepared remarks, the Facebook CEO will tell lawmakers that America risks losing “financial leadership” to China if they don’t get behind his company’s plan. Referring to China’s proposed digital currency, which is expected to launch before the end of the year, Zuckerberg will argue: “While we debate these issues, the rest of the world isn’t waiting. China is moving quickly to launch similar ideas in the coming months… If America doesn’t innovate, our financial leadership is not guaranteed.” Continue reading Zuckerberg Spins Congress: Back Facebook Cryptocurrency or Let China Win