China has stepped up trials of its digital yuan. It is trying to become the first major economy to launch a sovereign digital currency. At least 20 million wallets have reportedly been created so far, but analysts said authorities must still get more on board. The digital currency doesn’t require a bank account to access funds, which could benefit the 20% in China without one. It is expected to help prevent illegal activities like money laundering, and allow authorities to make better economic planning decisions with the information collected.
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