Chinese government to make concessions and promise to study the possibility of using cryptocurrency in the country

Chinese government to make concessions and promise to study the possibility of using cryptocurrency in the country

At the end of March, the people’s Bank of China recognized the cryptocurrency one of the main threats for the yuan. The government promised to take measures to minimize the risks, but about what actions will be taken in silence.

On 11 April, the Chairman of the main Bank of the country shared their plans about the prospects of cryptocurrencies in the country. It seems that a complete ban will not happen.

Speaking at the Asian economic forum in Boao, held from 8 to 11 April, the Chairman of the people’s Bank of China And Gan, have raised the question of the adoption of cryptocurrency in mainland China. According to him, the authorities refer to digital money with care, while actively usuca the possibility of their safe application.

In our opinion, virtual money is not so often used in the economy, mostly, are cases of speculative transactions and money laundering. Why China is wary of the cryptocurrency.

Then followed by a positive statement.

I must say that China has advanced further than all countries combined in the study of cryptocurrencies. We will consider what the optimal form of virtual currency can be used for good.

Gan said that China is trying to consider all the factors of security, development and unwanted side effects.

I’m talking about a distributed registry and all that we call “Fintek”.

Is happening in China — concessions by regulatory bodies due to the good news?

Let's Disqus