Representatives of the People’s Bank of China officially confirmed the end of the main phase of developing their own cryptocurrency.
The local publication Sina Finance reports that the country’s chief financial regulator has published an official document stating that “top-level design, standard formulation, functional research and development has been completed”.
The PBC says that further work will be related to ensuring security, stability, and control of the new system. Recall that last week they announced that the development of their own cryptocurrency was going on as normal. The final product should be ready this year. As for other digital currencies, the official policy of the PRC remains unchanged.
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