China should not rush on digital yuan for cross-border payments

China should not rush on digital yuan for cross-border payments - former central bank head
Reuters
1 hour ago
© Reuters/JASON LEE
Former governor of the People's Bank of China (PBOC) Zhou Xiaochuan attends the 2019 New Economy Forum in Beijing
BOAO, China (Reuters) - China should not rush to use the digital yuan for cross-border payments due to regulatory obstacles and foreign concerns about it's global impact, Zhou Xiaochuan, the country's former central bank governor, said at the Boao Forum on Wednesday.
China is one of the frontrunners in the global race to launch central bank digital currencies to modernise financial systems, ward off the threat from cryptocurrencies like bitcoin and speed up domestic and international payments.

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