Cryptocurrency, in its various forms, has captured the attention of stakeholders—individuals, organizations, regulators, and central banks. With the avalanche of unregulated options, central banks have doubled down on their efforts to release their variants.
One of the frontrunners in this space is the People’s Bank of China (PBOC) that has pioneered the digital yuan or e-CNY, its central bank digital currency (CBDC), to thwart shadow currencies. In fact, China has been working on its CBDC since 2014.
