[2015-12-16] "It is out of the question banning Bitcoin", says governor....

[hendra147]

The price of Bitcoin is going through a downward cycle and the culprit seems to be China all over again. The country is still doubtful regarding the status of the digital coin and the uncertainties are causing the price of the world’s most famous digital coin to go down.

However, an announcement made this Friday (11) by the People’s Bank of China (PBOC) stating that new cryptocurrency-related statements would be issued in order to clarify the central bank’s position caused the price of Bitcoin to recover from $380 to a bit over $420.


Recorder Journal http://recorderjournal.com/2015/12/17/quot-it-is-out-of-the-question-banning-bitcoin-quot-says/

[Magnr]

"The bank’s governor, Zhou Xiaochuan, addressed the matter during the Boao Forum, a regional economic event that addresses economic problems in Asia. According to the representative, China will not seek to ban Bitcoin and other digital currencies"

That could be the reason of the recent price rise. It means Chinese could encourage developing bitcoin in the future.

This makes a lot of sense. I'm glad he stood up for a pro bitcoin stance in the position he is in. Any country that embraces this as a positive innovation is clearly going to benefit in a very big way.

[gentlemand]

There's never been any question of a ban. There have been edicts to restrict its usefulness. That's much easier to implement and a whole load more palatable to anyone watching.