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1/20/16

China's central bank plans to launch its own digital currencies

China's central bank wants to launch its own digital currencies to cut the costs of circulating traditional paper money and boost policymakers' control of money supply, the People's Bank of China said on Wednesday.

A PBOC research team set up in 2014 to look into digital currencies should make preparations for launches, according to a central bank statement posted on www.pbc.gov.cn.

Read more: China's central bank plans to launch its own digital currencies

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