Chinese governor says CBDC must balance privacy and anti-crime measures

PBoC governor Yi Gang

The People’s Bank of China governor has warned that authorities will act to prevent criminals making large-scale use of its prototype central bank-issued digital currency.

The digital yuan must strike a balance between privacy protection and crime prevention, Yi told a panel meeting held by the Bank of Finland’s Institute for Emerging Economies. A completely anonymous CBDC would attract illegal transactions, including money laundering and terrorist financing, he said on November 9.

The PBoC

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