On Saturday morning China Construction Bank, one of the big four state banks, enabled open use of the central bank digital currency (CBDC) trial in its app. By the afternoon, the functionality for the digital yuan, also known as DCEP was disabled.
It was probably an oversight because in order to access the functionality, one had to search for “digital currency” in the app. Nonetheless, users could bind the wallet to their bank account and make transactions. The terms and conditions of the trial give the bank the right to reverse transactions.
Apart from the latest screenshot, the main revelation was that there are four types of wallets, each with different transaction limits. It was previously revealed that there would controllable anonymity for the digital currency, but this might be more than that. One of the reporters stated that all they needed to do was link their bank account. But that automatically provides identity information.
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