Ex-Head of China's Digital Yuan Effort Facing Government Probe: Report

Yao Qian, the architect of China's central bank digital currency (CBDC) project, is under investigation for 'violations of discipline and law,' state-owned news outlet, Shanghai Securities News reported Friday. Qian led a research effort by the People's Bank of China (PBOC) to create and issue a digital yuan, a project that partly prompted other major jurisdictions around the world to also start exploring CBDCs. He left the central bank in 2018 and has since been at the China Securities Regulatory Commission. "Yao Qian, Director of the Science and Technology Supervision...