Today, the People’s Bank of China (PBOC) deputy director Mu Changchun addressed privacy and anonymity concerns over its upcoming digital currency project. According to
Reuters, the central bank official said that the digital yuan will have private transactions for those who want them.
At a Singapore conference, he said: “We know the demand from the general public is to keep anonymity by using paper money and coins … we will give those people who demand it anonymity in their transactions.”
Mu leads China’s central bank digital currency (CBDC) initiative and has been one of the key voices in its development. This summer, he made clear the
PBOC’s concerns over Facebook’s Libra project. Two months later, Mu released a
training course on the digital currency warning people of its possible financial consequences, plus what China is doing to further its CBDC.
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