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Token Impersonates Chinese Digital Yuan as Official Launch Date Remains Unknown

Published 05/22/2020, 09:38 AM
Updated 05/22/2020, 11:40 AM
Token Impersonates Chinese Digital Yuan as Official Launch Date Remains Unknown

With the official release date of digital yuan being kept in the dark, third-party actors have stepped in to impersonate the digital yuan officials, hoping to attract gullible investors.

A recent press statement issued by a company called Yuan Pay Group mentions the release of “the e-Yuan”, a currency which allegedly allows the government of China to use smart contracts “to track assets and liabilities and to ensure that multiple loans are not taken over the same collateral."

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