Economic Daily: The digital currency era is getting closer

On December 6, the Economic Daily published an article "The Digital Currency Era Is Getting Closer". The article introduces the difference between legal digital currency in China and electronic payment and Libra. Mu Changchun previously stated that Mu Changchun introduced that the current design of the central bank's digital currency focuses on the replacement of M0, not the replacement of M1 and M2. This is because M1 and M2 have been implemented electronically and digitally, and there is no need to use digital currency for digitalization. In addition, the article points out that the most critical difference between legal digital currencies and Libra is whether there is a national credit endorsement and whether the currency value can be guaranteed to be stable.