Cryptocurrencies
Biden Team Eyes Potential Threat From China’s Digital Yuan
- Officials want to understand implications of China’s efforts
- Yuan makes up just a fraction of forex compared to dollar
This article is for subscribers only.
Sign up for Next China, a weekly email on where the nation stands now and where it's going next.
The Biden administration is stepping up scrutiny of China’s plans for a digital yuan, with some officials concerned the move could kick off a long-term bid to topple the dollar as the world’s dominant reserve currency, according to people familiar with the matter.