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China’s Alibaba And Ant Group Billionaire Jack Ma Calls For Radical U.S. Banking Overhaul

by CBDC Insider
October 29, 2020
in Asia, Business, US
Reading Time: 1min read
0
China’s Alibaba And Ant Group Billionaire Jack Ma Calls For Radical U.S. Banking Overhaul
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Jack Ma, the billionaire founder of China e-commerce giant Alibaba, is gearing up for the record-breaking $34 billion stock market listing of his financial technology company Ant Group.

Ahead of the hotly-anticipated Shanghai and Hong Kong floatation, Ma has warned new “digital currencies,” such as bitcoin and China’s digital yuan, could be used to establish a new type of banking and financial system—and called for an overhaul of U.S.-led banking regulations.

“Digital currency could create value and we should think about how to establish a new type of financial system through digital currency,” Ma told the Bund Summit in Shanghai over the weekend in comments first reported by Bloomberg.

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Read more: https://www.forbes.com/sites/billybambrough/2020/10/29/chinas-alibaba-and-ant-group-billionaire-jack-ma-calls-for-radial-us-banking-overhaul/#5bdb3289104a

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