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The people's Bank of China announced on Wednesday that it has neither issued legal digital currency (DC / EP) nor authorized any asset trading platform to conduct transactions; the central bank began to study legal digital currency in 2014, which is still in the process of research and testing.
According to the announcement published on the central bank's website, "DC / EP" or "DCEP" traded on the market are not legal digital currencies, and the launch time of online legal digital currencies is inaccurate information.
The announcement stressed that at present, the so-called issuance of legal digital currency via Internet and the behavior of some institutions launching "DC / EP" or "DCEP" in the name of the people's Bank of China to conduct transactions on the asset trading platform may involve fraud and pyramid selling.
Mu Changchun, director of the Monetary Research Institute of the people's Bank of China, said recently that the global stable currency poses many risks to public policy and supervision, and it is not suitable to launch the global stable currency until problems such as laws, supervision and risk control are solved. China's central bank's digital currency has introduced a two-tier operation system from the beginning, that is, the use of private and public sectors to jointly build digital currency, and may also use private forces to jointly build public products in the future.

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