FACT CHECK: Did Forbes Publish This Article About China’s New Cryptocurrency?

Hannah Hudnall | Fact Check Reporter

An image shared on Facebook purportedly shows a screengrab of a Forbes article with a headline that reads, “China Launches Official Cryptocurrency: World Banks And Governments Terrified.”

Verdict: False

The article comes from a website that is unaffiliated with Forbes. There is no evidence Forbes published such a story.

Fact Check:

China banned all crypto transactions and mining in September 2021, Reuters reported. Now, an image shared on Facebook claims the country is creating its own cryptocurrency.

The Facebook image shows what appears to be a screenshot of a Forbes article titled, “China Launches Official Cryptocurrency: World Banks And Governments Terrified.” The article goes on to state that large banking institutions were concerned about the “unprecedented” move.

The article was not published by Forbes, however. It does not appear on the official Forbes website nor does the tagged journalist appear to work for the outlet. There is likewise no trace of the article on the outlet’s verified Twitter and Facebook pages.

A keyword search revealed the article was published by the website sircles.net, which uses the Forbes header and format despite having no connection to the real Forbes. All the links included in the article bring the reader to a website that encourages them to invest in cryptocurrencies, primarily Bitcoin. (RELATED: Did McDonald’s Send A Tweet Saying It Wouldn’t Hire People Who Have Traded Cryptocurrencies?)

China has been working on developing a digital version of its currency since 2014, according to CNBC. The outlet notes, however, that the digital currency is not considered a cryptocurrency since it is controlled by the People’s Bank of China.

Check Your Fact has reached out to Forbes for comment and will update this piece if a response is given.

Hannah Hudnall

Fact Check Reporter

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