The People’s Bank of China Bans Bitcoin, Again
The People’s Bank of China reposted a memo from September 15th that addresses the country's Bitcoin ban to their website, causing widespread Bitcoin selling and a Friday morning price dip.The People’s Bank of China (PBOC) reposted a memo from September 15th that addresses the country's Bitcoin ban to their website, causing widespread Bitcoin selling and a Friday morning price dip. The memo outlines a nation-wide crackdown on Bitcoin and other cryptocurrencies out of concern over them “disrupting economic and financial order, breeding illegal and criminal activities such as gambling,....
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Bitcoin is becoming a world currency. Credibility and safe-haven currency functionality are some of the sine qua non features of a world currency. Signs corroborating that Bitcoin exhibits these two features are appearing more frequently and in ever more significant use-cases. Bitcoin is Gearing Up to be a World Reserve Currency. Recently, The People’s....
The People’s Bank of China summoned financial institutions to reinforce that no Chinese citizen can make bitcoin transactions.
Yesterday’s news regarding the Chinese stock market once again showed how brittle the global economy is at this point. With stocks tumbling slightly over 7 percent, trading was suspended a few hours before the markets closed. Things did not get off to a good start earlier today, as an early 2% loss was worrying a fair few investors. But things calmed down once the People’s Bank of China intervened and poured money into money markets. Based on the information provided by Reuters, it looks like the People’s Bank of China prevented another major loss for the CSI300 earlier today. Early traded....
Apparently, the People’s Bank Of China is considering using blockchain technology to power the Digital Yuan CBDC. The coin, also known as Digital renminbi or digital RMB, has been in beta-testing for a while now. However, Di Gang, deputy director of the Digital Currency Institute of the People’s Bank of China, recently presented an extensive report on blockchain technology. It was at “the 18th annual global meeting of the International Finance Forum (IFF) on Dec. 5,” and Chinese journalist Colin Wu translated the main points for us to analyze. Related Reading | How Samsung Will....
“Bitcoin was built on a platform without national boundaries,” the Former Governor of the Bank of China, L H Li, said on CCTV Tuesday in China. “If you want to kill Bitcoin, it will be an impossible task. So it will continue to exist. What is important now is that we should properly regulate it.” Rumors in China have led bitcoin exchange executives to....