China's central bank is closer to issuing its digital currency 

China's central bank is closer to issuing its digital currency 

Gate Trade News Wednesday, March 25, 2020 17 0

The People’s Bank of China (PBoC), the country’s central bank, is said to have moved one step closer to issuing its national digital currency. As per Report, the PBoC appears to have completed the development of digital currency's basic function in collaboration with private companies. The central bank is now reportedly drafting relevant laws to circulate the digital yuan. Alipay is said to have publicized five patents related to China's digital currency earlier this year. Judging from the patents, the first step of technological development has been basically completed