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The digital yuan is capable of undermining the financial dominance of the United States
The digital yuan will become a "fundamental technological element" for the majority of wholesale payments between the Central Bank of China, financial companies and international organizations. If foreign firms want to maintain access to the huge Chinese market and continue doing business, they will have to use digital currency and the Chinese wholesale payment system, Warsh believes.

Later, e-CNY will also be used for retail payments, which will allow the authorities to track transactions for compliance with established standards, predicts an American expert. According to him, Asia, Russia and the Middle East expect that the digital yuan will become an alternative to Western currency and payment systems.

In this regard, Warsh called on the United States to bet on the launch of a digital dollar for wholesale payments, and not on stablecoins (a type of cryptocurrency whose exchange rate is tied to the exchange rate of a fiat currency, usually the US dollar or euro), which are issued by private companies.
Source: https://d-russia.ru/cifrovoj-juan-sposoben-podorvat-finansovoe-gospodstvo-ssha-smi.html?utm_source=telegram