Cyber yuan: China rolls out its own e-currency, a first for major economy

It's poised to give Beijing power to track spending, and money that isn't linked to the global financial system

With cyber yuan, the Chinese government has created a digital currency controlled by its central bank.
 
With credit cards and payment apps, money dealings are already sort of virtual. But now, China is turning legal tender itself into computer code, The Wall Street Journal (WSJ) reported.
 
China’s version of a digital currency is controlled by its central bank, which will issue the new electronic money. It is expected to give China’s government vast new tools to monitor both its economy and its people.
 
By design, the digital yuan will negate one of bitcoin’s major draws: anonymity for