Facebook Libra threat could spur work on China’s national digital currency: PBoC Official

Facebook's Libra is spurring development of China's own central bank digital currency, according to CoinDesk. The People's Bank of China has a considerable head start per head of the research bureau Wang Xin. The role of the dollar in Libra raises questions for the PBoC, which Xin addressed:

“But there would be in essence one boss, that is the U.S. dollar and the United States. If so, it would bring a series of economic, financial and even international political consequences.”