People’s Bank of China has ruled out the emergence of completely anonymous CBDCs

Completely anonymous national digital currencies do not correspond to the “consensus of the world’s leading central banks.” This was stated by the director of the CBDC Institute of the People’s Bank of China (NBK) Mu Changchun, writes The Block .

“The conditions for the anonymity of national digital currencies are their limitations and the need to control risks. Completely confidentialCBDCnot constructive, ” he said.

The official explained that the digital yuan is based on the so-called “controlled anonymity”. It assumes privacy for users when making transactions, but leaves transaction details transparent to regulators.

Mu Changchun said any project that contradicts the goals of combating money laundering, terrorist financing and tax evasion will be vetoed.

The NBK spokesman referred to the widespread use of bitcoin and USDT by criminals to launder proceeds from illegal activities.

The publication noted that the Central Bank of China for the first time confirmed the role of CBDC as an instrument of financial supervision.

In October, Hodlmonks reported that the name of the merchant was not reflected in the data on transactions involving digital yuan .

Managing Partner of Primitive Ventures Dovi Wan warned that with the launch of the CBDC, the authorities of the Celestial Empire will only need to change “a couple of lines of code” to confiscate property .

Recall that a similar position regarding the confidentiality of the digital ruble was presented by the head of the Bank of Russia Elvira Nabiullina .

The Bank for International Settlements and seven leading central banks in the world have ruled out complete anonymity due to AML / CFT rules.

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