OREANDA-NEWS China enters the global cryptocurrency market. The national regulator began developing its own digital currency last year, and now it is "close to release." The new currency of China will be an argument in a trade war between China and the United States, analysts say. However, it will not affect the outcome of this confrontation. 

The People's Bank of China (PBoC) is preparing to launch a new cryptocurrency. While the exact date of the release of the new currency to the markets is unknown, but the government has been working to create a national digital asset since last year. 

Since the fall of 2017, the country has been prohibited from conducting ICOs, as well as trading in cryptocurrencies. Over the past two years, 88 Chinese crypto exchanges have been closed and 85 projects on the initial placement of tokens have been discontinued.