Chinese Central Bank Sources Deny Forbes Report of Digital Currency’s November Release

Sources close to the People’s Bank of China (PBOC) have denied a recent report from Forbes magazine claiming that a statutory digital currency will be released by as soon as November.

The Forbes report cited an anonymous source working on PBOC’s digital currency/ electronic payments (DC/EP) project as predicting an 11 November release date for China’s statutory digital currency.

In the same report Paul Schulte, former head of China Construction Bank, said that the initial beneficiaries of the Chinese central bank’s statutory digital currency would include tech giants Alibaba and Tencent, as well as all of the big state-owned banks.

Sources from the Chinese central bank have since denied the report, telling Sina that they the information is “inaccurate speculation.”