China Could Curb Reliance on U.S. Dollar, Avoid Sanctions Through Digital Currency Apps

The People's Bank of China unrolled a digital currency app that will allow users in 10 of the country's major population centers to create e-wallets and make purchases using a digital version of the country's currency, the renminbi. Unlike cryptocurrencies such as Bitcoin and Ethereum, the digital form of the renminbi is controlled by the country's banking system and can be regulated through a