the CHINA central bank governor Zhou Xiaochuan! CAN'T BAN BTC!!!!!

[ptopex]

April 11th dispatch (reporter Zhang Qian) this afternoon, the central bank governor Zhou Xiaochuan in Hainan Boao in the central bank's future forum. Zhou Xiaochuan said at the forum, the currency was not the central bank to start, do not talk to go up what ban. But Zhou Xiaochuan said he worried about is, "the currency is a trading asset, not like the currency of payment. For example, stamp like, mainly collections".

He said, as the asset transactions. The currency does not belong to our jurisdiction, not what to problem.

[Legal Counsel Zhou (PRC)]

google translated......

[TTM]

they can't ban BTC, but they can ban Bitcoin businesses from touching their finance and banking system. That's what they are doing right now.

[bryant.coleman]

Can you give me the source / news link for the article. I want to verify whether it came from a reputed source or not.

[TTM]

Can you give me the source / news link for the article. I want to verify whether it came from a reputed source or not.

http://finance.china.com.cn/news/special/boao2014/20140411/2327233.shtml

Human translation:

This afternoon, chairman of the PBOC Xiaochuan Zhou participated in the Boao Forum. Zhou announce on the forum that Bitcoin is not something that is invented by the central bank. Therefore, there is no agenda to ban it. Zhou said, "Bitcoin is a tradeable good, not a currency. Bitcoin is more or less like stamps, can be use as collectibles."

Zhou also said that Bitcoin as tradeable goods falls out of the PBOC's jurisdiction. Therefore, the PBOC has no agenda to ban Bitcoin.

Basically he mean central bank has no power to ban Bitcoin (similar to Janet Yellen's statement from FED). But obviously, central bank CAN disallow Bitcoin businesses to interact with its banking system.

[dreamspark]

We know they cant ban it thats not what theyre doing!

[havanabob]

Can you give me the source / news link for the article. I want to verify whether it came from a reputed source or not.

http://finance.china.com.cn/news/special/boao2014/20140411/2327233.shtml

Human translation:

This afternoon, chairman of the PBOC Xiaochuan Zhou participated in the Boao Forum. Zhou announce on the forum that Bitcoin is not something that is invented by the central bank. Therefore, there is no agenda to ban it. Zhou said, "Bitcoin is a tradeable good, not a currency. Bitcoin is more or less like stamps, can be use as collectibles."

Zhou also said that Bitcoin as tradeable goods falls out of the PBOC's jurisdiction. Therefore, the PBOC has no agenda to ban Bitcoin.

Basically he mean central bank has no power to ban Bitcoin (similar to Janet Yellen's statement from FED). But obviously, central bank CAN disallow Bitcoin businesses to interact with its banking system.

Wasn't it obvious from the start? Banks can't ban anything - they are not law enforcers. They can just shut bitcoin operations.

[zolace]

Its ok cause now you can go offshore buesiness for the chinese, and no chinese is stupid, thats why they been buying all the bitcoins up these past days.

[seriouscoin]

China, cutting banking system doesnt work.....

What if bitcoin farms start selling shares to the public and ppl can still effectively moving their fund out of the country?

Can you answer that China?

[ChuckBuck]

It's also on Coindesk:

http://www.coindesk.com/chinas-central-bank-governor-pboc-wont-ban-bitcoin/

Better to have China than not at all.  Those price swings are crazy!

[Mrrr]

[RockHound]

they can't ban BTC, but they can ban Bitcoin businesses from touching their finance and banking system. That's what they are doing right now.

+1

[bryant.coleman]

Basically he mean central bank has no power to ban Bitcoin (similar to Janet Yellen's statement from FED). But obviously, central bank CAN disallow Bitcoin businesses to interact with its banking system.

Slightly good news. From what I understood, you can use hard cash to buy Bitcoins in China or to make cash deposits to your account in BTC-China, but you can't do that directly from your bank account. Not very convenient, but I am not complaining.

Now you have to withdraw cash from your bank account, and then manually deposit the amount in BTC-China.

[innocent93]

But the truth is all commercial bank is now not allowed to supply any kind of services to relevant company including exchange platform.

 I ban your mouth and nose and then tell everyone I can't ban your breath ?

[rohan1]

yes, What they did is not same as what they said.