Preparations for Issuance of "Digital Currency" Chinese Central Bank Announces Law Amendment Proposal October 24, 5:29
It seems that the central bank of China will announce a bill to amend the law, prepare legal grounds and hurry to prepare for the issuance of "digital currency", an electronic currency that can be used like banknotes and coins. ..
The People's Bank of China, the central bank of China, is preparing to issue "Digital RMB", an electronic legal tender that can be used like banknotes and coins, and on the 23rd, announced a bill to amend the law for that purpose. ..
The amendment stipulates that "Renminbi includes physical and digital forms," providing a legal basis for the issuance of digital RMB.
The amendment is expected to solicit public opinion until the 23rd of next month, after which the procedure for its enactment is expected to proceed.
Digital currencies are also being researched by central banks in various countries such as the ECB = European Central Bank, and the Bank of Japan said this month that it "has no plans to issue it at this time", but the first stage within the Bank of Japan early next year. It has announced that it aims to start a demonstration experiment.
This month, the People's Bank of China is conducting its first demonstration experiment in southern Guangdong Province to distribute digital yuan to 50,000 citizens and use it for payment, and it seems that it is aiming to hurry up preparations by proceeding with law revision procedures. I will.