Governor of PBOC Says Chinese Central Bank Won't Be Banning Bitcoin

Governor of PBOC Says Chinese Central Bank Won't Be Banning Bitcoin

Oh, look. Another day, another story about China. Today, reports indicate that the governor of the People's Bank of China (PBOC) - the Chinese central bank - has no intentions of banning bitcoin. Despite the fact that their hasn't been talk lately of an outright ban, there's been chatter about banks discontinuing relationships with bitcoin exchanges. "It is out of the question of banning bitcoin as it is not started by central bank," Zhou Xiaochuan was quoted as saying, according to CoinDesk. "Bitcoin is more a kind of tradable and collectible asset, such as stamps rather than a payment....


Related News

China's Central Bank Governor: PBOC Won't Ban Bitcoin

The price of bitcoin recovered from a low of roughly $380 and rose past $420 at press time on 11th April, on the news that Zhou Xiaochuan, the governor of the People's Bank of China (PBOC), had issued new statements potentially clarifying the central bank's position on bitcoin. According to reports, during Boao Forum, Xiaochuan offered his opinion on the nascent technology, saying that China would not seek to ban bitcoin and other digital currencies entirely. Said Xiaochuan: "It is out of the question of banning bitcoin as it is not started by central bank." Xiaochuan continued his....

PBOC Reveals Central Bank Digital Currency Usage at Beijing Winter Olympics —...

The People’s Bank of China (PBOC), the Chinese central bank, has revealed how its central bank digital currency (CBDC) is being used at the Beijing Winter Olympics. A top PBOC official says, “It seems all the foreign users are using hardware wallets.” Digital Yuan’s Latest Trial A top official from the Chinese central bank, the People’s Bank of China (PBOC), provided an update of the latest trial of the Chinese central bank digital currency (CBDC) during a webinar arranged by the Atlantic Council Tuesday. The digital yuan, or e-CNY, is currently being....

China's Central Bank Discusses Digital Currency Launch

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 Central Bank Chief Speaks Digital Currency & Blockchain Tech

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....

China is studying crypto as an investment tool, says PBoC deputy governor

The central bank official said stablecoins issued by private companies may require "stronger regulatory rules" than Bitcoin. Li Bo, recently appointed deputy governor of the People’s Bank of China, or PBoC, reportedly spoke on the benefits of crypto as an investment tool while highlighting regulatory uncertainty in the country surrounding digital assets.According to Chinese journalist Colin Wu, Li made the comments at the Boao Forum in southern China on Sunday. The PBoC head said there are still regulatory risks for the central bank, citing its previous ban on initial coin offerings and....