Statistics Chief at China's Central Bank Bearish on Bitcoin
Bitcoin, like other virtual currencies, is fundamentally not a currency, the head of the Chinese central bank's financial survey and statistics department, Sheng Song Cheng, wrote in an opinion piece published online on 2nd January. Sheng's piece added that it would be difficult to see how bitcoin could ever be considered a currency in the future. Although Sheng's view underlines the central bank's official position laid out last month, which states that bitcoin is not a currency "with real meaning", the statistics head took the additional step of labelling the cryptocurrency a "utopia"....
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A representative from the People's Bank of China claimed in a press conference yesterday his institution is not trying to prevent bitcoin use, just clarify its status, according to a report from BitcoinExaminer. Questioned about the central bank's recent actions limiting bitcoin use in China, its chief of the survey and statistics department Sheng Song Cheng answered: "We don't want to suppress or discriminate against bitcoin, we are simply saying it is not a currency." Sheng stressed that bitcoin's status in China was that of a "virtual good", and that the bank's position was in line with....
In a talk given at the Portadown Chamber of Commerce in Northern Ireland on September 18, Andrew G Haldane, Chief Economist at the Bank of England (BoE), has hinted at the possibility that the U. K. government might issue a digital currency. Though the disclaimer "The views are not necessarily those of the Bank of England or the Monetary Policy Committee" ensures plausible deniability, Haldane's talk seems to indicate that the BoE is at least seriously considering the possibility. Haldane is chief economist at the BoE and executive director of monetary analysis and statistics. Listed by....
An official for China’s central bank unveiled usage statistics of state-backed digital currency trials held in three Chinese cities.
The Agricultural Bank of China, one of the Big Four Chinese Banks, has begun notifying its Bitcoin Exchange clients of upcoming changes to policy. The other 3 “Big Four” banks in China are: The Industrial and Commercial Bank of China, China Construction Bank, and Bank of China. By market capitalization, the Industrial and Commercial Bank of China is the largest bank in the entire world, according to Relbanks 2013 statistics on largest banks in the world. The Agricultural Bank of China is the 6th largest bank in the world by the same measure, outstripping all American Banks besides Wells....
The head of China’s central bank, the People’s bank of China (PBOC) has provided more details about the bank’s significant recent revelation. Less than a month ago, the PBOC announced that it will try to launch its own digital currency “as soon as possible.” In a wide-ranging interview with Caixin Weekly, PBOC governor Zhou XIaochuan provided more insight into the PBOC’s recent announcement of issuing its own yet-unnamed digital currency. The governor notes that China’s digital currency will be fundamentally based around central banking system principles. He opined that the central bank....