China’s Central Bank (PBoC) Forced by Fake Website to Deny Launch of Its Digital Crypto (DECP)

The PBoC (People’s Bank of China) was recently forced to release a statement indicating that its much anticipated digital asset was still in its testing stages. This news comes during a time when there are online reports insinuating that dates had already been set for the official launch of the stablecoin.

DCEP or the Digital Currency Electronic Payment is a digital yuan being developed by China’s Central Bank. The bank issued a clarification after a fake website popped up online stating that the stable coin was set to go live on November 20th. (the fake website) featured an API on its pages accompanied by a countdown to the so-called official release date. The Central Bank also issued a warning to potential investors asking them to be wary of Ponzi schemes or scams that were being issued by impostors.

Chinese Sentiments on Crypto

China issued a blanket ban on crypto assets in late 2017 asking its residents not to invest in them. In a bid to establish whether the resident’s sentiments have changed since the ban went into effect, Cointelegraph sought to speak to RockX’s co-founder and CEO, Alex Lam.

According to Alex, many Chinese locals were not aware of the existence of the crypto assets at the time they were being banned. Thus by banning these assets, the government was able to bring into light crypto-assets such as Ethereum and Bitcoin to the locals who had not heard of them before.

He goes on to add that it does not come as a surprise to note that many smaller countries, including China, were at some point wary of blockchain technology. But many have since then come to the realization that the SWIFT monetary system, as well as the use of the U.S. dollar, were in some cases being used against them as weapons of war.

This has, in turn, informed their desire to develop and adopt digital currencies.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Daniel W
Daniel W
Daniel Wambugu writes daily cryptocurrency and blockchain related articles BitcoinExchangeGuide. His articles have appeared in numerous blogs, media publications, and community forums. He prides himself on once being a beginner and uses his experience to deliver high-quality insightful content for our dear readers. With a knack for reviewing ICOs or researching news, Daniel plans to continue being a top contributor for many years to come.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Second Half of 3-Yr Bull Market: Ether’s Crazy Run has 90% of its Supply in Profit

This past weekend, the price of Ether went past $400 to as high as about $420, a level last seen in July 2018. This...

Teenage Mastermind Behind the Twitter Hack Owns $3.39 Million in Bitcoin (300 BTC); Bail Set At $725k

The 17-year old Twitter-hack mastermind holds over $3 million in BTC value with only $725,000 set for bail. In a bizarre moment last month, Twitter...

Bitcoin (BTC) Jumped to $100,000 on Binance Futures

There have been several predictions that see Bitcoin hitting a six-digit figure. On Sunday, this became a reality, very briefly, thanks to an algorithm. Bitcoin...

Flash Crash Caused Serious Network Congestion for ETH, ETC, And ERC 20 Tokens on Coinbase

On August 1, the Ethereum's blockchain faced a spike in network transaction fees, causing a backlog in transfers across several exchanges. Coinbase and Binance,...

Bitcoin’s Wild Weekend Reminiscent of 2017 Bull Rally, ‘Higher Highs Ahead in 2020'

This past weekend, bitcoin had a rough time as the largest cryptocurrency made its way past $12,000 to $12,112 in trading just after midnight...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today