"The PBOC said at a January seminar that it will issue official digital currency as soon as possible."
"China is not yet ready to issue an official digital currency of the nation, nor has it authorized any institute to do so."
"Zhou Xiaochuan, governor of the central bank, elaborated that the digital currency issued by the PBOC will be mainly responsible for replacing cash, so as to bring down costs and improve the efficiency of circulation."
"According to a notice issued by the Gold and Silver Bureau of the People's Bank of China (PBOC), the so-called digital currency in the market now is not legal, as the central bank has not yet issued a legal currency."
Full story: http://topic.chinadaily.com.cn/index/special/sid/545
