Securities Daily: Digital currency construction will help RMB internationalization

Securities Daily today published "New Trends in RMB Internationalization in the New Era." The article mentioned that the construction of digital currency will help the internationalization of the RMB. At present, the mainstream digital currency transactions are mainly for speculative purposes. Excessive currency fluctuations may also make it easier for criminals to launder money and evade taxes. The biggest advantage of the central bank in issuing digital currencies lies in the government's endorsement. In July 2019, the State Council officially approved the research and development of the digital currency of the People's Bank of China. At present, the People's Bank of China has applied for 74 patents for digital currencies. The efficiency of transaction settlement helps the internationalization of RMB.