Mu Changchun, the Director General of China’s central bank Digital Currency Research Institute, clarified how the managed anonymity of China’s digital yuan works.
Talking about the central bank digital currency (CBDC) at DC Fintech Week, Mu Changchun said today, “There’s actually a big misunderstanding about the anonymity issue of the eCNY system.” Despite wallets for small value payments requiring a phone number, the central bank would need a warrant to access an individual’s identity linked to that number.
Digital yuan wallets have multiple tiers, and each tier is authorized to transact larger total values. The aim is to support anonymous small value payments but traceable larger amounts.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
