The following are the main events and stages of the development timeline of digital currency in China:
1. Early cognitive stage (2009-2013):
- 2009: Bitcoin was born, ushering in the era of blockchain and cryptocurrency.
- 2011: Bitcoin begins to attract attention in China, with early purchasing and trading activities gradually increasing.
2. Initial market exploration (2013-2016):
- 2013: The first batch of Bitcoin trading platforms, such as Jubi, began to appear in China.
- 2014: The People's Bank of China issued an announcement stating that Bitcoin does not have legal tender status and strengthened supervision and risk warnings on digital currencies.
- 2015: The Chinese government began to regulate Bitcoin transactions, requiring trading platforms to use real-name registration and anti-money laundering measures.
3. Strengthened regulation and market shocks (2017-2018):
- From the end of 2017 to the beginning of 2018: The Chinese government issued a number of regulatory measures, including suspending ICOs (initial coin offerings) and closing Bitcoin exchanges, which led to significant turbulence in the digital currency market in China.
- 2018: Most domestic digital currency trading platforms stopped RMB recharge business and began to expand into overseas markets.
4. Regulatory policy implementation and rectification period (2019-2020):
- 2019: China's National Development and Reform Commission listed mining as one of the areas of industry cleanup and rectification, and strictly controlled the digital currency industry chain.
- 2020: The Chinese government proposes the "Blockchain+" strategy to promote the application of blockchain technology in various industries, providing a broader space for the research and development of digital currency technology.
5. Promotion of blockchain technology applications (2021 to present):
- 2021: China promulgates the Digital Currency Law, which clarifies the definition and regulatory framework of digital currency and promotes the pilot and application of the digital RMB (CBDC).
- 2022 to present: Digital currency continues to develop in China, and official digital currencies represented by the digital RMB are gradually piloted and promoted, which has promoted the development of the digital economy and financial technology innovation.
The above timeline outlines the main development stages of China's digital currency from early exploration to regulatory strengthening and rectification, and then to the application and promotion of blockchain technology. With the continuous evolution of policies and technologies, China's digital currency market is still changing and developing.
