Beijing embraces cryptocurrency, but only its own

Expected 2020 launch to protect financial sovereignty, unlike 'fraud' bitcoin

20191120 Crypto-Currency

Beijing is forging ahead with plans to develop a digital currency in a bid to secure financial sovereignty and enhance the global role of the yuan. (Nikkei montage/source photo by Reuters)

NARAYANAN SOMASUNDARAM, Nikkei Asian Review chief banking and financial correspondent

HONG KONG -- Late last month, Xi Jinping became the darling of cryptocurrency enthusiasts around the world -- if only briefly.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.