Briefing

China’s central bank says it’s nearly ready to launch its own digital currency

The currency will replace money issued directly from the central bank and follow a “two-tier system,” with the People’s Bank of China (PBoC) issuing tokens to financial institutions that will then distribute them to clients. The digital fiat currency has been in the works since 2014, said Mu Changchun, deputy director at the Payment and Settlement Department of the PBoC, over the weekend. Mu said the bank has been working “overtime” to get the currency ready, in light of recent “external factors.” (Technode)

    Enter your email to read this article for free

    By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.’s products and services. You can withdraw your consent at anytime. Please refer to our privacy policy or contact us for more details.
    Already a subscriber?

    In-depth, agenda-setting reporting

    Great journalism delivered straight to your inbox.

    Briefing

    Australia to scrutinize foreign investments in EV, critical mineral sectors

    U.K. proposing to criminalize explicit deepfakes

    Nearly one-third of businesses planning price hikes as inflation looms large: StatCan

    Best business newsletter in Canada

    Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.

    Exclusive events

    See the bigger picture with reporters and industry experts in subscriber-exclusive events.

    Membership in The Logic Council

    Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.

    Canada's most influential executives and policymakers are reading The Logic

    • CPP Investments
    • Sun Life Financial
    • C100
    • Amazon
    • Telus
    • Mastercard
    • bdc
    • Shopify
    • Rogers
    • RBC
    • General Motors
    • MaRS
    • Government of Canada
    • Uber
    • Loblaw Companies Limited