A senior Bank of Japan official played down the potential for China’s digital yuan to threaten the dollar’s position as the world’s main reserve currency.

“The dollar’s status as the key global currency won’t change so easily,” said Kazushige Kamiyama, head of the BOJ’s payment systems department and the person in charge of looking into a virtual Japanese currency. “In fact, the dollar’s advantage may strengthen further if the U.S. goes with digitalization.”

Digital Ambitions

Central banks are at varying stages of developing digital currencies

Source: Bloomberg

A report earlier this week showed the Biden administration is increasing its scrutiny of China’s progress…

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