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China Is Racing Facebook To Release Their Global Cryptocurrency Before Facebook

Ramsey Baker

Summary: China is racing Facebook to create their own global digital currency before Facebook can release their project Libra, according to CNBC. The People’s Bank of China announced earlier this year that they would be releasing a virtual currency that is backed by the Chinese Yuan. China was reportedly inspired by Facebook’s announcement and now could ...

China is racing Facebook to create their own global digital currency before Facebook can release their project Libra, according to CNBC.

The People’s Bank of China announced earlier this year that they would be releasing a virtual currency that is backed by the Chinese Yuan. China was reportedly inspired by Facebook’s announcement and now could see their project release before Facebook’s due to U.S. Regulators halting Facebook’s project Libra.

By Ramsey Baker

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