China's PBOC Says Its Own Cryptocurrency Is ‘Close’ to Release
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Photographer: Qilai Shen/BloombergBloomberg News
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The People’s Bank of China is “close” to issuing its own cryptocurrency, according to a senior official.
The bank’s researchers have been working intensively since last year to develop systems, and the cryptocurrency is “close to being out,” Mu Changchun, deputy director of the PBOC’s payments department, said at an event held by China Finance 40 Forum over the weekend in Yichun, Heilongjiang. He didn’t give specifics on the timing.