The People's Bank of China Will Attach Great Importance to the Security and Privacy of the Digital RMB System

[ChainDD report] July 20 (ChainDD) According to the Economic Times, Fan Yifei, the deputy governor of the People's Bank of China (PBOC), said the central bank attaches great importance to the security and privacy of the digital RMB system.

The bank regards law-based compliance and security and convenience as the two most important design principles which run through all levels of the digital RMB design framework.

According to Fan Yifei, transaction information collected by the digital RMB system will not be excessively collected and will not be provided to third parties or other government departments unless it is clearly stipulated by laws and regulations.

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