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Biden Team Eyes Potential Threat From China’s Digital Yuan

  • Officials want to understand implications of China’s efforts
  • Yuan makes up just a fraction of forex compared to dollar
Bloomberg business news
WATCH: The U.S. has stepped up scrutiny of China’s digital yuan.(Source: Bloomberg)
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The Biden administration is stepping up scrutiny of China’s plans for a digital yuan, with some officials concerned the move could kick off a long-term bid to topple the dollar as the world’s dominant reserve currency, according to people familiar with the matter.