Central Bank: Announcement on the fraudulent use of the People's Bank to issue or promote legal digital currency

Recently, the net news said that the People's Bank of China has issued legal digital currency, and some organizations have used the name of the People's Bank to trade the relevant digital products on the digital asset trading platform with “DC/EP” or “DCEP”. The relevant information is hereby announced as follows

1. The People's Bank of China has not issued legal digital currency (DC/EP) and has not authorized any asset trading platform to conduct transactions. The People's Bank of China has been studying the legal digital currency since 2014 and is still in the process of research and testing. The market transactions "DC/EP" or "DCEP" are illegally set digital currency, and the legal digital currency issuance time is inaccurate.

Second, the current network of so-called legal digital currency issuance, and individual institutions fraudulently launching "DC/EP" or "DCEP" on the asset trading platform in the name of the People's Bank of China, may involve fraud and pyramid schemes, and ask the general public to raise risks. Consciousness, unbiased and credulous, to prevent damage to interests.

People's Bank of China

November 13, 2019

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(Source: People's Bank of China)