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Chinese Central bank digital currency (CBDC) is all set to launch, and the bank has made it official. The step is taken as a measure to stay ahead of the competition in the cryptocurrency sphere. In November of 2018, The internet was going wild with the fake ban-lift news that had China at its center because it wouldn’t allow the people to trade in crypto. This time its nothing like that and by nothing- we do mean nothing. Need for a Chinese Central bank digital currency China is planning of launching a state-backed cryptocurrency. Of course, the crypto will be