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,
The People’s Bank of China (PBoC), the country’s central bank, has published a statement warning investors about the risk associated with crypto trading and initial coin offerings (ICO).
In a public notice, the central bank urged investors to increase their risk awareness of cryptocurrencies and ICOs,
The People’s Bank of China (PBoC), the country’s central bank, has developed a blockchain system that digitizes checks issued by domestic businesses.
Di Gang, deputy head of the digital currency research lab at the PBoC, said that the blockchain system,
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.
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.
The People’s Bank of China (PBoC), the country’s central bank, is reportedly planning to regulate the use of electricity for bitcoin mining.
The central bank recently had a closed-door meeting with members of the Leading Group of Beijing Internet Financial Risks Remediation to discuss how to regulate bitcoin mining.
The People’s Bank of China (PBoC), the country’s central bank, has banned individuals and organizations from raising funds through initial coin offerings (ICO). The central bank said that ICOs are illegal and have asked all related fund-raising activity to be halted immediately.
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.
In yet another sign that the Chinese government may be planning its own long cryptocurrency march, the People’s Bank of China is looking to hire some blockchain experts.
The Shanghai Daily reports that the PBoC has launched its own blockchain research institute and seeks to hire engineers.
