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CHINA's YEAR OF DRAGON STARTING - US DUMPS THE MARKET - Bitcoin Crypto market updateIs cryptocurrency legal in China? Freeman Law can help with digital currencies and tax compliance. Schedule a free consultation! The new digital yuan offers an opportunity to build a scalable model for global trade and ser vices payments by making it potentially easier and cheaper to move. To catch up with the Chinese CBDC, the US must develop its own digital currency Even China is entering into currency swap agreements with neighboring friendly.