PBOC denies launching its own cryptocurrency
- Apparently, the digital currency was scheduled to be launched in November.
- The digital currency was alleged to be distributed by China’s four largest banks, Alibaba, Tencent, and Union Pay.
China’s central bank has denied that it’s launching its own cryptocurrency this November, as per TechNode. The People’s Bank of China (PBOC) stated on Piyao - Beijing’s official platform for exposing “online rumors" - that a “large number of net news sources” were not true. Plus, parties involved in its distribution have apparently been misconstrued.
The statement made by the bank is a rebuttal to the claims made by Forbes. In its August article, Forbes cited several intimate sources, declaring that China’s “DC/EP” (Digital Currency/Electronic Payments) will likely roll out in November. The digital currency was alleged to be distributed by China’s four largest banks, Alibaba, Tencent, and Union Pay. PBOC, however, didn’t shed light on when or how the coin would be launched. The bank stated that “official information” would be given out sooner or later.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
