The People’s Bank of China has postponed a digital development program scheduled for the first quarter of this year. The reason for the suspension is the quarantine introduced because of the coronavirus, which has affected government agencies, reports the Global Times, citing informed sources.
“The outbreak of coronavirus has led to the suspension of work in government institutions, including the People’s Bank of China. The politicians and research staff involved in the creation of the digital Yuan are no exception, which affects the development process, ”the source said.
He added that the epidemic will not affect the launch date of China’s cryptocurrency (CryptoYuan). The central bank has the necessary technical base and resources to complete the development of the digital currency on time, the source said.