People’s Bank Of China Intensifies Bitcoin Ban With Financial Institution Mee...
The People’s Bank of China summoned financial institutions to reinforce that no Chinese citizen can make bitcoin transactions.The People’s Bank of China (PBOC) has called prominent financial institutions in China to a meeting to reinforce an evolving country-wide ban on bitcoin services, Bloomberg reported. The institutions were summoned to help the central bank prevent Chinese citizens from trading bitcoin through exchanges and over-the-counter platforms.“Banks and payment institutions must strictly implement ... regulatory requirements, earnestly fulfill their customer identification....
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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....
News from China is once again spreading through the bitcoin world like wildfire. It appears China’s central bank the People’s Bank of China (PBOC) is visiting with the top three Chinese exchanges and assessing each companies operations. Per usual on negative rumors from China the price of bitcoin took a dive during the early hours of January 11 dropping....
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 operator of China’s interbank trading system has joined the R3 blockchain consortium. The China Foreign Exchange Trade System (CFETS), founded in the early 1990s, functions directly under the auspices of the People’s Bank of China, the country’s central bank. As such, it functions as the platform for interbank trading between Chinese banks and those based abroad. As part of the consortium, CFETS officials will work with other financial institutions worldwide on blockchain development initiatives. Zaiyue Xu, executive vice president of CFETS, said in a statement: “CFETS is committed to....
For a minute there, it seemed like the FUD was over. The People’s Bank of China contributes to its country’s crypto-crackdown at the “Financial Knowledge Popularization Month,” People’s Daily Online reports from Beijing. Speaking at an event, Yin Youping, Deputy Director of the Financial Consumer Rights Protection Bureau of the People’s Bank of China, claimed: “We remind the people once again that virtual currencies such as Bitcoin are not legal tender and have no actual value support.” Related Reading | “The Death Of China’s Bitcoin Mining Industry,” 7....