PBOC Chairman has just announced a digital currency for China, under the ticker DCEP.
DCEP will be based on Distributed Architecture and DLT, focusing on payment solutions.
PBOC Chairman’s latest comment on ICO and Bitcoin Trading:
1. Bad ICOs and coins must be put on hold.
2. Good ICOs and coins must be tested and validated for the technologies and market application.
3. No immediate further sanctions will be made in the near future.
Furthermore, ICOs must not serve as a tool to get super rich overnight, PBOC recognizes some technologies in ICO may have positive influences on real market economy, and PBOC has an open arm for that.
Test usage may start in 2019. DCEP stands for Digital Currency for Electronic Payment.