China’s Digital Currency Yuan Launch is a “HOAX”- People’s Bank of China

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

China's Digital Currency Yuan Launch is a "HOAX"- People's Bank of China

  • 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 head of the digital currency research institute at the PBoC, Ma Changchun said that China is working passionately since 2014 towards the development of its cryptocurrency and had been researching it.

China’s central bank– The People’s Bank of China, gave the statement officially that it’s digital yuan is still being worked upon, the working and testing is yet to be over.

The statement was given on Wednesday where it said that all the news about the issuing of the digital currency is a hoax.
It said
“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 Bank announced officially this Wednesday.

Further, it also cleared that the timetable many news outlets have been issuing for the launch is also “inaccurate”. It said
The market transactions (DC/EP) or DCEP are illegally set digital currency, and the legal digital currency issuance time is inaccurate”

PBoC gave no official statements about the schedule or launch of the digital currency and went on to say that any rumor about the launch of the cryptocurrency may be a conspiration. It said that such false statement includes “false and pyramid schemes”

The head of the digital currency research institute at the PBoC, Ma Changchun said that China is working passionately since 2014 towards the development of its cryptocurrency and had been researching it. The efforts will soon yield results but it is yet to be launched. Chang Chun also added that the complete information of the people will not be governed by the digital yuan and it will not be controlling all the privacy details and is likely to offer the desired anonymity in the transactions carried.

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