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PARAGRAPHChina is on track to unveil a digital currency that it hopes could challenge dollar.

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Warburg Pincus reshuffles Asia leadership rush into banned bitcoin Chinese equity firm Warburg Pincus announced before giving up earlier losses, its India head, as the for luring newcomers.

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China blockchain and cryptocurrency news, analysis and in-depth articles by Cointelegraph. Latest news, analysis and opinion on cryptocurrency Bitcoin, including Blockchain technology and possible competitors such as Facebook's planned digital. While China has denied legal-tender status for cryptocurrencies, it has not � at least not yet � outlawed its attribution as property or a.

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At the same time, China has long embraced the potential of blockchain technology, and Beijing even issued a Web3 white paper. It is in negotiations for a bailout from the International Monetary Fund after defaulting on an interest payment to private creditors in December. The city has made very public steps to establish itself as a digital asset hub of Asia, if not the world. The country has ambitious plans for its central bank digital currency.