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  • Earlier reports indicated that China was getting ready for the launch in November.
  • The launch now remains subject to confirmation by the PBOC.

According to a source associated with the Chines Communist Party, the hyped Peoples Bank of China digital asset may not launch in November as reported earlier this week. The Global Times, a Chines publication, the information regarding the launch date is misleading and simply speculation.

“Refuting media reports of launching a state-backed cryptocurrency in the coming months, #China’s central bank termed them as “inaccurate speculation,” wrote on Twitter.

It is clear that PBOC is working towards the release of its China’s national cryptocurrency. However, as the tweet above suggest the launch date remains a subject of confirmation. Although, reports earlier this week suggested the launch to be as soon as November this year.