China to Challenge US Dollar Dominance with Digital Yuan
China has launched its digital yuan international operations center, marking a pivotal step in its strategy to undermine the US dollar's global hegemony. The MOVE signals Beijing's ambition to reshape cross-border transactions and reduce reliance on Western financial systems.
While the article does not mention specific cryptocurrencies, the development could indirectly impact the broader digital asset ecosystem. Central bank digital currencies like the digital yuan represent both competition and validation for decentralized cryptocurrencies.