Token Mimics Chinese Digital Yuan as Official Launch Date Remains Unknown

With the official release date of the digital yuan still unanswered, some third-party entities have begun to impersonate officials involved with the digital currency, aiming to lure unsuspecting investors.

A recent statement from a company named Pay Group discusses the introduction of “the e-Yuan,” a currency that purportedly enables the Chinese government to utilize smart contracts. These smart contracts are claimed to be used for tracking assets and liabilities, ensuring that multiple loans are not secured against the same collateral.