Blockchain Investment Bubble Is Obvious – People’s Bank of China

Blockchain, News, Regulation | November 7, 2018 By:

The People’s Bank of China (PBoC), the country’s central bank, said that blockchain investment bubbles are apparent, and that the government should strengthen supervision.

In a working paper titled “What can a blockchain do and cannot do?,” the Research Bureau of the PBoc advised local Chinese government agencies to enhance supervision of financing into the blockchain sector in order to prevent “speculation,


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.


China Exchanges Used Client Funds for Own Gains, Report Claims

Crime, FinTech, Investing, News, Regulation | August 22, 2017 By:

A Chinese news agency has reported that bitcoin exchanges Huobi and OKCoin invested client funds into risky financial instruments for their own gain.

The state-owned Xinhua Agency newswire reported late last week that Huobi and OKCoin collectively put a billion yuan (about $150 million US) in idle client funds into high-yielding but risky wealth management products.