June 18, 2024

Chinese cryptocurrency will have an "on-demand anonymity" feature

Chinese cryptocurrency will have an "on-demand anonymity" feature

According to Mu Changchun, head of the Digital Currency Research Institute at the People's Bank of China,the government will not control citizens through national cryptocurrency. All holders of this asset will have the option of “anonymity on demand”.

Speaking at a conference in Singapore, Changchunsaid the government “is not seeking full control over personal information of the population.” Users who request a certain level of anonymity will receive it. He said:

We know that there is a great demand in societyon anonymity. We will let these people conduct transactions anonymously. However, such transactions will still be monitored in order to prevent tax evasion, money laundering, terrorist financing, and other illegal activities.

As previously reported, China is almost ready to launch a digital currency. Some experts believe that the national cryptocurrency will appear in early 2020.

Based on materialswww.ccn.com