PBOC Officials Discuss Bitcoin as China's Central Bank Stays Silent on Rumours
Following as-yet-unconfirmed rumours that the People's Bank of China would move to block domestic banks from working with digital currency exchanges this April, the price of bitcoin has declined substantially since 26th March, dropping from a high of just over $580 to today's low of $442 on the CoinDesk USD Bitcoin Price Index. The decline has been exacerbated by the fact the People's Bank of China (PBOC), the country's central bank, has not yet issued a formal response. Notably, this lack of action sharply contrasts the events of 21st March, when the PBOC reacted quickly to quash rumours....
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CoinDesk can confirm that the source mentioned in this piece is Bobby Lee, CEO of bitcoin exchange BTC China. Lee said he is now happy to go on the record. Sources close to China's Central Bank today reported that the institution has banned third-party payment companies from doing business with bitcoin exchanges. A reputable source told CoinDesk that the People's Bank of China (PBOC) met with most of the top third-party payment companies this morning. The source said the meeting topic was unrelated to bitcoin, but digital currency became an important part of the discussion. "PBOC, in no....
The People’s Bank of China (PBoC), the country's central bank, is moving toward the launch of its own digital currency. The PBoC said in a 20th January release that it had held a meeting discussing the possibility in Beijing. Attendees included central bank governor Zhou Xiaochuan and deputy governor Fan Yifei, as well as a group of “relevant research institutions, major financial institutions and advisory bodies of experts”. Notably, the central bank put together a team dedicated to digital currency research in 2014 – the work of which played into the Beijing meeting. In addition, the....
China-based bitcoin exchange BTCC has publicly commented on statements issued by the country’s central bank. The People’s Bank of China (PBoC) released twin statements this morning, outlining that it had met this week with representatives from BTCC, as well as Huobi and OKCoin – exchanges which host the majority of global bitcoin trading today – and warned them about remaining in compliance with state laws and regulations. The digital currency’s price also fell below the $900 mark amid the news. BTCC said that its representatives “work closely” with officials from the PBoC “to ensure that....
In a statement released by the People’s Bank of China, the central bank of China has announced that they are going to be carrying out inspections on Bitcoin enterprises in the country. The statement was posted in Mandarin on Jan. 17, 2017 on the PBOC website. Sudden ‘inspections’ on Chinese Bitcoin companies. The PBOC will check by carrying out onsite inspections if the Bitcoin enterprises within China are operating under the regulations of the country. The central bank is on the lookout for companies that they deem to be operating “beyond the scope of the enterprise and the market.” PBOC....
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