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Crypto adoption is a ‘huge challenge,’ says Chinese central bank exec By Cointelegraph


Crypto adoption is a ‘huge challenge,’ says Chinese central bank exec

The rapid adoption of cryptocurrencies like (BTC) poses a major challenge for the traditional financial system, an executive at the Chinese central bank has warned.

Wen Xinxiang, director of the payment and settlement department at the People’s Bank of China (PBoC), has expressed concerns over the growing popularity of cryptocurrencies and fiat-pegged stablecoins.