China’s Crypto Market: Digital Yuan as an Alternative to Private Cryptocurrencies

... concentration and purchasing strategic foreign assets is ensuring that China reach its objective in cutting-edge technologies. China’s activity on the cryptocurrency market can be seen as part of this strategy. Overall, China accounts for some 65% of the bitcoin mined worldwide. China’s leadership comes from its cheap labor force, availability of electricity, and a relatively cheap local production of computer chips and other equipment required for mining farms. According to The Economist , the mining ban resulted in about ...