China’s CBDC will have “managed” anonymity, says PBoC governor

Yi Gang says authorities must balance between protecting privacy and fighting illicit activity

Yi Gang
PBoC governor Yi Gang
Photo: World Economic Forum

The governor of China’s central bank, Yi Gang, said authorities are aiming to design a central bank digital currency with “by-and-large” anonymity.

“Privacy protection is one of the issues top on our agenda,” Yi said of the central bank’s stance over the digital yuan. “In designing e-CNY, we try to ensure privacy protection and financial security through by-and-large anonymity and managed anonymity,” he added on October 31.

The digital yuan operates under a two-tier system, Yi noted in his

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