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A Chinese lawmaker has proposed revising the central bank law to officially confirm digital yuan

2026-03-11 16:07:21

China Moves to Grant Digital Yuan Legal Status: NPC Rep Calls for Revised Central Bank Law

The digital yuan is getting closer to a legal identity. NPC deputy Fu Xiguo has submitted a proposal urging faster revisions to the People's Bank of China Law, arguing that the current lack of legal rules for e-CNY leaves the central bank without clear authority to manage issuance, circulation, and risks. That gap, he says, undermines security and consumer protection.

The fix? Amend the law to formally recognize the digital yuan as legal tender and cement the central bank's role as its issuer. It should also criminalize counterfeiting or tampering with e-CNY, with clear penalties. In short: put the digital currency on solid legal ground.

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