Cryptocurrency News Today – Top Headline for Cryptocurrencies

• China’s Cryptographic Project Has Secured a Powerful Partner

According to reports, Facebook’s Libra project has made Beijing hasten its efforts towards creating a state back the digital token. When Facebook revealed plans for Libra, it called it the reinvention of money in the internet age. Who could imagine that those at Facebook would know that their initiative will make China accelerate its efforts?

Beijing Will Replace Cash With Digital Money Soon

China is reportedly looking to replace cash with digital currency. Facebook has faced scrutiny over its decision to create a stable coin. The social media giant has been grilled by lawmakers and regulators over Libra. Some of the project’s corporate partners have pulled out. However, it will appear that Beijing’s ambition is moving forward. 

The new system emerging in China is different from Bitcoin and others. Enthusiasts have called regular cryptos tools of emancipation from governments. A state-backed digital currency will…