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China is cracking down on cryptocurrencies because it’s worried crypto could threaten national security and economic and financial stability, top economist Mohamed El-Erian said in a Sunday Bloomberg op-ed. 

Several countries, including China and the UK, are considering issuing central bank digital currencies, showing that they’re leaning towards the adoption of centralized currencies, he said.

“The more they advance on this, the greater the inclination they will have to make room for their own digital currencies by putting regulatory pressure on the attractiveness and viability of decentralized variants such as bitcoin,” El-Erian wrote. “Indeed, this details ⇒

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