On October 12, in Beijing, the First Workshop on Standards for Digital Fiat Currency (DFC) for Universal Finance Access was held by International Telecommunication Union (ITU) and the Institute of World Economics and Politics at the Chinese Academy of Social Sciences (CASS). Also involved were the People’s Bank of China (PBoC), the Institute of Digital Money, the Chinese Academy of Information and Communications Technology and the Digital Fiat Currency Institute.

The workshop organizers invited professionals, officers, and entrepreneurs from more than 40 countries to discuss the future of digital currency. The topics of the workshop included the regulation the problems inherent in digital currency. Chinese scholars showed their interest in the idea of state-issued digital currency and steadfastly refused to recognize the value of a public cryptocurrency such as Bitcoin.