China Central Bank Ready with Crypto Prototype By Cryptovest

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China Central Bank Ready with Crypto Prototype

People’s Bank of China (PBoC) is ready with a prototype on a state-backed digital coin, to be distributed through commercial banks, reported Shanghai Securities News. “People’s Bank digital currency can now be said to be ready,” said Mu Changchun, PBoC director of the Payment and Settlement division.

China has a mixed approach to digital assets, on the one hand attempting to curb the usage of coins and tokens to circumvent capital controls. Token sales, or ICOs, are also banned in mainland China as a risk to personal finance. But the …

This article appeared first on Cryptovest

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