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China Might Permit WeChat To Come Up With Cryptocurrency

The impending launch of Facebook’s Libra cryptocurrency is seemingly having many implications on both economic and political fronts around the globe. Especially this development is seen with utmost interest among the business circles in China and the strained relationship with the US and the country is also one factor behind this unnerving excitement. The launch of the Facebook stablecoin is sure to make China’s envy about having its own cryptocurrency, which could be based on its digital payment platforms.

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Fuelling speculations is the report in South China Morning Post which divulged details about the possibility of China getting its first sanctioned cryptocurrency almost around 2 years after the country officially banned all digital coins. The People Bank of China…

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