As interesting as this development is, I can't say if this is actually a good or bad development in the cryptoverse. That judgement is best left for the actual gurus to discern.
In my own opinion though anything that concerns the government is no longer decentralized and has gone the opposite direction of the initial purpose of cryptocurrencies, call me extreme, well, maybe.
That being said, the reality is that governments cannot actually be left out of crypto wave, the only question is how far will they get involved, will they take over fully as time goes on or will they be on the sidelines.
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RE: People's Bank of China Announces Imminent Issuance of Central Bank Digital Currency