Digital Currency Manual for Chinese Officials in High Demand, Enters Second Printing

A 200-page manual titled "Digital Currency: A Reader for Cadres" entered its second printing in January.

The high demand signals interest from China's government amid confusing regulations on cryptocurrencies.

"It is actually a collection of published articles by officials and researchers on digital currencies. The views expressed in the book are not new. I think it meant to be a one-stop shop sort of thing for officials to get their head around on the concept."

Chinese Communist Party officials appear to be showing interest in digital currencies, given the launch of the second printing after just three months after its initial release.

The book's cover describes digital currencies as "Inevitable in the course of history," adding that the articles are presented in the "Hope to help Party cadres deepen their understanding" of the technology.

The manual was the first attempt to educate Chinese officials on the merits and pitfalls of distributed ledger technology, with the aim of fostering healthy growth.

Since early 2018, People's Bank of China representatives considered digital currencies as inevitable but viewed the potential spread of decentralized alternatives as destabilizing.

It is unsurprising, given this view, that China pushed for creating a central bank-controlled digital currency in 2019.

Retaining control over the blockchain ecosystem appears to be a recurring theme for Chinese officials.

As Cointelegraph reported in late 2018, the Huobi exchange re-opened a China subsidiary - which included a Chinese Communist Party committee branch.