People's Bank of China: "We Don't Want to Suppress or Discriminate Against Bitcoin"
In a press conference on Wednesday, the People's Bank of China (PBOC) - China's central bank - said made comments on their stance on the digital currency bitcoin. In that conference, the PBOC noted that they don't wish to eliminate bitcoin, as it were. "We don't want to suppress or discriminate against bitcoin," said Sheng Song Cheng, who heads the financial survey and statistics department at the bank. Despite intentions to not discriminate against bitcoin, the national bank simply doesn't view it as a currency. "We are simply saying it is not a currency," he said. "We took a look at....
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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....
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China is on the verge of an economic meltdown and Bitcoin can be one of its major problems. Beijing might be preparing to tighten the siege around companies and entrepreneurs doing business with Bitcoin. The latest Goldman Sachs report revealed that about 80% of bitcoin transactions are being made in China. With an economic slowdown on its hands, the People's Bank of China (PBOC) is trying to find and close down the holes from where many of the country's wealth is being taken out. Right now, China's highest priority is stability, and bitcoin growing popularity is having a negative impact....