China's proposed digital currency more about policing than progress

SHANGHAI (Reuters) - As China prepares to become the first country to launch a digitized domestic currency, market participants and experts say it is a testament to both financial innovation and Beijing’s desire to have fail-safe control over its cash economy.China’s central bank has revealed few specifics of its Digital Currency Electronic Payment (DCEP) project, one that’s been five years in the making, though more details have trickled out over the past few weeks in the bank’s..