{"id":39426,"date":"2021-03-23T17:21:13","date_gmt":"2021-03-23T15:21:13","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=39426"},"modified":"2025-08-30T09:31:15","modified_gmt":"2025-08-30T06:31:15","slug":"pboc-rules-out-fully-anonymous-cbdcs","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/pboc-rules-out-fully-anonymous-cbdcs\/","title":{"rendered":"PBOC rules out fully anonymous CBDCs"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Fully anonymous national digital currencies do not align with the consensus of the world&#8217;s leading central banks. Mu Changchun, director of the CBDC Institute at the People&#8217;s Bank of China (PBoC), said,<\/span> <a href=\"https:\/\/www.theblockcrypto.com\/linked\/98925\/pboc-anonymous-cbdc-not-option\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Block<\/span><\/a><span style=\"font-weight: 400;\"> reports.<\/span><\/p>\n<p><!--more--><\/p>\n<blockquote>\n<p><i><span style=\"font-weight: 400;\">The anonymity conditions of national digital currencies are their constrained nature and the need to manage risks. Fully confidential CBDC is not constructive<\/span><\/i><span style=\"font-weight: 400;\">, he noted.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">The official explained that the yuan&#8217;s core rests on what is referred to as \u201ccontrolled anonymity.\u201d It provides users with privacy in making transactions, but leaves transaction details transparent to regulators.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to Mu Changchun, any project that conflicts with the goals of combating money laundering, financing of terrorism, and tax evasion will be vetoed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A representative of the PBoC cited widespread use of Bitcoin and USDT by criminals to launder proceeds from illegal activities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The publication noted that the PBoC for the first time confirmed the role of CBDC as a tool of financial supervision.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In October, ForkLog reported that in transaction data involving the digital yuan <a href=\"https:\/\/forklog.com\/en\/news\/digital-yuan-to-offer-partial-anonymity-for-transactions\"><span style=\"font-weight: 400;\">the merchant name does not appear<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Dovey Wan, a managing partner at Primitive Ventures, warned that with the CBDC launch, Chinese authorities would only need to change <a href=\"https:\/\/forklog.com\/en\/news\/opinion-dcep-built-on-the-digital-yuan-is-just-another-payments-app\"><span style=\"font-weight: 400;\">a couple of lines of code<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"2HEWuJZp8R\">\n<p><a href=\"https:\/\/forklog.com\/en\/news\/how-chinas-digital-yuan-dcep-put-it-at-the-forefront-of-monetary-innovation\">How China managed to become a leader in monetary innovation thanks to the digital yuan (DCEP)<\/a><\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cHow China managed to become a leader in monetary innovation thanks to the digital yuan (DCEP)\u201d \u2014 ForkLog\" src=\"https:\/\/forklog.com\/exclusive\/kak-kitayu-udalos-vyjti-v-lidery-monetarnyh-innovatsij-blagodarya-tsifrovomu-yuanyu-dcep\/embed#?secret=Hk8W8eQlBj#?secret=2HEWuJZp8R\" data-secret=\"2HEWuJZp8R\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">A similar stance on the confidentiality of the digital ruble was voiced by the head of the Bank of Russia<\/span> <a href=\"https:\/\/forklog.com\/en\/news\/nabiullina-outlines-indicative-timeline-for-digital-ruble-launch\"><span style=\"font-weight: 400;\">Elvira Nabiullina<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Bank for International Settlements and seven leading central banks worldwide<\/span> <a href=\"https:\/\/forklog.com\/en\/news\/group-of-central-banks-says-full-anonymity-for-cbdcs-is-unacceptable\"><span style=\"font-weight: 400;\">excluded full anonymity<\/span><\/a><span style=\"font-weight: 400;\"> due to AML\/CFT rules.<\/span><\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fully anonymous national digital currencies do not align with the consensus of the world&#8217;s leading central banks. Mu Changchun, director of the CBDC Institute at the People\u2019s Bank of China (PBoC), said, The Block reports.<\/p>\n","protected":false},"author":1,"featured_media":39427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,133,1734,1256,1369],"class_list":["post-39426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-china","tag-peoples-bank-of-china","tag-privacy-and-personal-data","tag-yuan"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/39426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=39426"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/39426\/revisions"}],"predecessor-version":[{"id":39428,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/39426\/revisions\/39428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/39427"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=39426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=39426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=39426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}