China’s central bank is reportedly making strides towards launching a digital currency (not a cryptocurrency) tied to the yuan. Here are three things to know about the proposed central bank digital currency (CBDC). Financial Monitoring and Control Anyone remotely familiar with China knows that electronic payments are already a huge part of the country’s socio-economic fabric. So, why launch a digital currency in a country where people hardly make cash payments? According to Mu Changchun,Read MoreThe post Three Things To Know About China’s Digital Yuan (Not a Cryptocurrency) appeared first on Bitcoinist.com.