Crypto News Blocks

Upcoming Chinese Digital Yuan Victim Of Impersonation

  • A company called Yuan Pay Group issued a press statement confirming release of “e-Yuan,” despite no official update from Chinese officials.
  • Several red flags found on Yuan Pay Group website, as defined by criteria from the US Securities and Exchange Commission (SEC).
  • Press statement includes false quotes from entrepreneurs Peter Thiel and Richard Branson.
  • Yuan Pay Group advertising sketchy promotion deal that guarantees high returns to investors.
  • Yuan Pay Group website contains broken links to social media websites.
  • Yuan Pay Group falsely claims it owns trading license despite ban on cryptocurrency trading in China.
  • Still no official launch date for digital Yuan, which has been in development since 2018.
  • Bank of China reportedly drafting laws that will allow for implementation of digital Yuan.
  • Read the full story here.

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