China Central Bank: No Digital Currency is Issued Yet
The central Bank of China PBoC (Public’s Bank of China) has officially stated that they are in the process of testing and research of the digital Yuan.
The central bank of China announced on 13 November that some reporters are saying the central bank has issued its own digital Yuan currency. The Public’s Bank of China called these reporters “Fraudulent”.
The announcement further added:
“The People’s Bank of China has not issued legal digital currency (DC/EP) and has not authorized any asset trading platform to conduct transactions. The People’s Bank of China has been studying the legal digital currency since 2014 and is still in the process of research and testing.”
Many news channels and blogs have also predicted the launch date of the digital Yuan which are inaccurate. “The market transactions “DC/EP” or “DCEP” are illegally set digital currency, and the legal digital currency issuance time is inaccurate” the document further explained.
The central Bank of China PBoC has not announced any launch date for the digital currency. PBoC also warns citizens that any announcement about the launch of digital currency may involve “fraud and pyramid schemes.”
China has been actively researching and testing digital currency since 2014. Mu Changchun, head of the digital currency research institute at the PBoC said that the upcoming digital currency will not store people personal information and also provide required anonymity in their transactions.
