The Central Bank of China said it would accelerate the research and development of its “legal digital currency,” a statement released by the People’s Bank of China (PBoC) said.
On August 2, a video conference was held at the central bank to discuss the main tasks of the financial institution for the second half of 2019.
During the event, top management specifically mentioned cryptocurrencies , stating that PBoC would “closely follow global cryptocurrency trends.”
Last month, Wang Xin, director of the bank's research bureau, said that the bank is considering developing its own cryptocurrency in the light of the Facebook Libra project and its likely impact on global monetary policy.
Does Beijing have more options than Facebook?
Recently, the CEO of Chinese telecommunications giant Huawei Zhenfei Ren (Zhenfei Ren) also publicly stated that China has more opportunities than Facebook when it comes to releasing cryptocurrencies, believing that the government, if it really decides to enter crypto space, can achieve stunning Successes.
As we already wrote, according to the new patent application, retail giant Walmart is working on the release of a digital currency supported by Fiat, similar to Libra Facebook, cryptobtcmining.com reports.
Publication date 08/03/2019
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