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China’s digital yuan could pose challenges to the U.S. dollar

China is beating the U.S. when it comes to innovation in online money, posing challenges to the U.S. dollar’s status as the de facto monetary reserve. Nearly 80 countries — including China and the U.S. — are in the process of developing a CBDC, or Central Bank Digital Currency.

Link: https://www-cnbc-com.cdn.ampproject.org/c/s/www.cnbc.com/amp/2021/07/24/the-us-is-deciding-how-to-respond-to-chinas-digital-yuan.html