PBoC’s Digital Currency Chief Departs to Lead Securities Clearing House

The former architect of China’s central bank digital currency (CBDC) initiative has left the position to head the country’s central securities clearing house.

The former architect of China’s central bank digital currency (CBDC) initiative has left the position to head the country’s central securities clearing house.

Yao Qian, who founded the Digital Currency Research Lab at the People’s Bank of China (PBoC) last year, has now taken up the role of general manager at the China Securities Depository and Clearing Corporation (CSDC), according to an update from the firm on Monday.

He joined the firm this month, having left the PBoC in September, the CSDC says.

Yao was notably featured as one of the most influential individuals in blockchain by CoinDesk in 2017, due to his efforts in leading the PBoC’s development of a digital yuan.

While it remains unclear who will now fill the lead role at the digital currency lab, the news comes just days after it announced a new round of job openings, looking for both legal and technical experts to focus on the CBDC development.

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