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China’s central bank may be planning to use its digital currency to curb the dominance of Alibaba and Tencent in the digital payments sector.
The People’s Bank of China (PBOC) is purportedly planning to use its digital currency electronic system (DCEP) — another moniker for its central bank digital currency — to target the dominance of technology giants like Alibaba and Tencent in the digital payments sector.
The report comes only a few days after claims of the central bank prompting a top antitrust agency to launch a probe against Alipay and WeChat Pay for . . .
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