Ex-Head of China's Digital Yuan Effort Facing Government Probe: Report
Summary
Yao Qian, the architect of China's central bank digital currency (CBDC) project, is being investigated for 'violations of discipline and law'. Qian led a research effort by the People's Bank of China to create and issue a digital yuan, a project that influenced other major jurisdictions to explore CBDCs. He left the central bank in 2018 and has been at the China Securities Regulatory Commission since then. The details of the allegations against Qian have not been disclosed.
