Facebook spur China on to look at their own Digital Currency

With the announcement of Libra, Facebook’s new Digital Currency, it was reported in The South China Morning Postthat Wang Xin - a directorof the People’s Bank of China (PBOC) – said recently at an academic conference hosted by Peking University’s Institute of Digital Finance“If [Libra] is widely used for payments, cross-border payments in particular, would it be able to function like money and accordingly have a large influence on monetary policy, financial stability and the international monetary system?”China was one of the first countries to look at Digital Currencies back...