China Not In A Hurry To Develop Own Cryptocurrency, Says Central Bank Head Zhou Xiaochuan

Blockchain, News, Regulation | March 9, 2018 By:

Zhou Xiaochuan, governor of the People’s Bank of China (PBoC), said China is in no hurry in developing its own cryptocurrency.

Speaking at a press conference amid the Two Sessions, China’s annual political event, Xiaochuan said the development of a digital currency should be a prudent progress and excessive speculation must be avoided.


Cryptocurrency Traders May Face China Bank Ban

News, Regulation | January 22, 2018 By:

The People’s Bank of China (PBoC), the country’s central bank, has reportedly ordered financial institutions to stop providing banking or funding to any activity related to cryptocurrencies.

According to a document issued by the PBoC, banks must carry out internal investigations to ascertain if cryptocurrency trading activities are being conducted via their payment services.


Cryptocurrency Restrictions Tightened in China

News, Regulation | January 16, 2018 By:

China is stepping up its ongoing crackdown on cryptocurrency exchanges. The Chinese government is now reportedly targeting online platforms and mobile apps providing trading services to cryptocurrency users, Bloomberg reported Monday, citing unnamed sources.

According to a source, Chinese authorities plan to block domestic access to Chinese and international cryptocurrency platforms that allow centralized trading.


People’s Bank of China Official Touts State-Issued Cryptocurrency

Blockchain, Investing, News, Regulation | October 16, 2017 By:

An official for a division of the People’s Bank of China (PBoC) has touted the need for a state-issued cryptocurrency that would be controlled by the government.

Yao Qian, the Director of the Digital Currency Research Institute, a division of the PBoC, made his pitch at a meeting hosted by the International Telecommunications Union.