The central bank issued a warning against "fake central bank digital currency"

Recently, some companies have impersonated the People's Bank of China and labeled related digital products as "authorized to be issued by the People's Bank of China" or falsely claimed to be the central bank's digital currency promotion team in an attempt to deceive the public and take advantage of the opportunity to make huge profits.

The central bank has recently issued a warning about this situation.

In the announcement published on June 15, the central bank clarified that it has not issued a legal digital currency, nor has it authorized any institution or enterprise to issue a legal digital currency. In addition, it also reiterated that the People’s Bank of China does not have a digital currency marketing team.

The central bank then warned investors that the so-called "central bank-issued digital currency" may involve pyramid schemes and fraud.

At best, the central bank concluded:

"We call on the general public to establish correct monetary concepts, cherish the RMB, and jointly maintain the normal circulation order of the RMB."

It should be noted that the emergence of this type of scam comes at a time when the central bank is actively increasing its efforts in blockchain research and development, while the real central bank digital currency is still in the exploratory stage.