A spokesman for the People's Bank of China said that a central bank digital currency (CBDC) cannot becompletely anonymous.
Mu Changchun, head of the China Central Bank's Digital Currency Research Institute, said on Saturday that the digital yuan will have "controlled anonymity" built into it. He declared:
The main conditions for CBDC anonymity are controllability and limitation. A completely anonymous CBDC is impractical.
Controlled anonymity will spreadonly to end users, while transaction details will be visible to the regulator and the Central Bank. Mu noted that this is being done in order to track illegal activities – money laundering, terrorist financing, tax evasion.
Recall that at the beginning of the year, the Agricultural Bank of China installed the first ATMs for the digital yuan in the country.
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