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Digital currencies: China will get there first, says Hammond

Former UK Chancellor of the Exchequer Philip Hammond responds to Yahoo Finance UK about central bank digital currencies (CBDCs). Lord Hammond believes that in the race to launch a digital fiat currency "China will get there first". However, he added that other jurisdictions must learn from Beijing's endeavours to exploit "rapid follow up advantage" and apply this to their own CBDC projects. Read Brian McGleenon's full interview with Philip Hammond here.

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