The Central Bank of China believes that cryptocurrencies threaten the yuan

The Central Bank of China believes that cryptocurrencies threaten the yuan

China’s Central Bank said that cryptocurrencies will be one of the top priorities this year.

The people’s Bank of China (PBoC) has set out its agenda for the coming year during a conference call devoted to monetary policy.

While the Vice-Manager of PBoC, fan Yifei praised the progress in research and development in the field of digital currencies, he stressed that one of the three priorities in 2018 will be to ensure the integrity of the Chinese yuan.

For this, said Fang, the Agency will strengthen its regulatory measures both within the country and external players to “confront the different types of cryptocurrency”.

In General, in the speech she little said little has been said about the development of cryptocurrencies and a lot about how they can undermine financial health in China.

In early March, former Governor, Zhou Syaochuan also criticized cryptocurrency speculation and tangible risks that it poses to the financial stability of the country.

Earlier this month, the Agency for supervision over safety of public information under the Ministry of public security has announced that it is expanding the field of Internet monitoring and now it will spread to foreign cryptocurrency exchangers and stock exchanges, which provide services to the citizens of China.

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