China denies rumours about national cryptocurrency launch

Posted 30 August, 2019

The People's Bank of China, which is rumoured to develop its own cryptocurrency, has denied information about the date when the currency will be released. The local newspaper The Global Times reported on Twitter that the messages that appeared earlier were not confirmed by the financial regulator. 

“Refuting media reports of launching a state-backed cryptocurrency in the coming months, #China's central bank termed them as "inaccurate speculation." - noted in the central bank.

However, the representatives of PBOC confirmed the high degree of readiness of the cryptocurrency, and the deputy head of the payment unit of the financial regulator Mu Changun said the blockchain architecture for it had been developed last year.

Earlier information appeared that China plans to issue its own cryptocurrency as early as November 11, the country busiest shopping day for online sales, U.S. financial magazine Forbes said, citing two sources familiar with the matter.

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30 August, 2019 15:06

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