PBoC official: China should clarify bitcoin exchange supervision

Regulation | March 7, 2017 By:

Zhou Xuedong, director of the PBoC‘s Business Administration unit, has stated that China should bring clarity toward its regulatory and supervisory authority of bitcoin exchanges in the country.

Zhou, who is also a delegate of the central bank to the national parliament, has also reportedly called for a ‘negative list’ of bitcoin exchanges in the country as a means to reducing financial and market risks.

He also suggested regulation in China may follow, giving the example of a licensing scheme – something expected and supported by exchanges and the wider community.

The update comes after a relatively quiet period in China as exchanges prepare to comply with recommendations from the PBoC’s January inspections.