The eight-year-old Independent Reserve said it is one of the first virtual asset service providers to obtain an in-principle approval letter for the licence.
Before the recent crackdown on bitcoin, China had already emphasized integrating blockchain technology into its financial system in a variety of ways.
Governments should strengthen their innovation systems to strategically position themselves to benefit from this new technological wave
Government is built, by design, to move slowly. CBDCs, however, are an area where government needs to partner with the private sector.