Bitcoin Exchanges Won’t be Prohibited, Will see Strict Supervision: PBOC Official
A senior Chinese central bank official who leads the department investigating bitcoin exchanges has revealed telling insights into authorities’ current stance on the bitcoin industry in China. Since the turn of the year, the People’s Bank of China (PBOC) has taken a notable interest in the local bitcoin industry. The bank’s officials have spoken to representatives from the big Chinese exchanges, conducted ‘on-site inspections’ of these exchanges and have wielded their authority to force the industry into making a handful of notable changes. Putting an end to zero-fee trading and margin....
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Caixin is a respected Chinese financial news source. Bitcoin prices have dropped nearly 10% across all Bitcoin exchanges, with the bulk of the action understandably located on Chinese Bitcoin Exchanges. A few hours ago, Caixin published a Chinese article claiming that the PBOC has met with commercial banks and third party payment processors, in particular those that do, or have done, business with Chinese Bitcoin Exchanges to remind them of the PBOC's stance. This Caixin article is written by a different author than the last Caixin article that was commented on in Western media (which....