Reuters reports People’s Bank of China Digital Currency Research Institute Head Mu Changchun said the country’s proposed digitized domestic currency is not looking to seek full control of individuals’ information, but the goal is to balance individual privacy and authorities’ access. China would be the first country to implement a digitized domestic currency. Changchun said at a conference in Singapore, “We will keep the balance between the ‘controllable anonymity’ and anti-money laundering, [counterterrorist financing], and also tax issues, online gambling and any electronic criminal activities.” It is unclear when the currency will be launched.
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