Beijings Ballyhooed Digital Yuan Has Disappointed, at Least so Far

Signage of the Chinese digital currency is seen near a coffee store in the New Actuation Fintech Center in Beijing on Feb. 17, 2022. Jade Gao/AFP via Getty ImagesCommentaryThe People’s Bank of China (PBOC) was one of the world’s first central banks to push a digital currency. The initial launch dates back to September 2020. Other central banks, most notably the Federal Reserve in the United States and the European Union’s European Central Bank, have talked about launching a digital dollar and a digital euro, respectively, but have not yet issued one.