Previous China Central Bank Director Explains Crypto Clampdown In an interview recently, the retired chairman of the People’s Bank of China decided to share his views on CBDCs and their position in the economic system, as well as his thoughts on the actual motive behind the country’s cryptocurrency clampdown. He argues that, whereas other countries employ a variety of approaches to integrating digital assets into their economic models, China will identify and adopt the most effective approach. According to Zhou Xiaochuan, the most fundamental role of currency is to serve as a means of a transaction; otherwise, it is intrinsically…