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9 July 2019 07:31

Maria Gregoriou

There is more hype around Facebook’s cryptocurrency Libra this week, as the People’s Bank of China (PBOC) announced that the digital currency must be under Central Bank oversight. According to PBOC’s deputy director of the payment department Mu Changchun, the digital currency “won’t be sustainable without the support and supervision of central banks.” Not only is China keeping a watchful eye over the creation of the new cryptocurrency, but the Indian government has also said that it is considering not allowing the currency to be traded at all, according to Bloomberg.

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