The International Business Times reports China might nationalize Alibaba. Here’s what that has to do with China’s digital currency efforts.
This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.
Today on the Brief:
- Whales accumulated during yesterday’s crash
- Kentucky legislators introduce bill to attract crypto miners
- UBS lowers the threshold for charging savers because of negative interest rates
Our main discussion: What China’s prospective nationalization of Alibaba has to do with the nation’s digital currency efforts.
- Gives a background on China’s digital currency project
- Discusses why the DCEP is motivated by a larger attempt to internationalize the RMB
- Background on Alipay, Ant Financial and Alibaba
- How Alibaba founder Jack Ma annoyed the CCP and why he hasn’t been seen publicly in two months
See also: Trump Signs Order to Ban Ma’s Alipay, Other Chinese Apps
Image credit: Wang HE/Getty Images News