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January 06, 2017, 02:53:26 PM |
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6th January 2017, 18：46 Beijing Time, China’s PBOC issued an announcement about its inquiry of “major heads” of a “major shanghai-based Bitcoin Exchange” and of “Beijing based Bitcoin exchanges”. PBOC Shanghai inquired BTCC while PBOC Beijing inquired Okcoin and Huobi respectively.
Breaking：China’s PBOC Inquires China’s BTCC, OKcoin, and Huobi
JAN 6, 2017by CHRIS ZHOU in REGULATION 2 7 169
6th January 2017, 18：46 Beijing Time, China’s PBOC issued an announcement about its inquiry of “major heads” of a “major shanghai-based Bitcoin Exchange” and of “Beijing based Bitcoin exchanges”. PBOC Shanghai inquired BTCC while PBOC Beijing inquired Okcoin and Huobi respectively.
For PBOC’s shanghai statement, it reads:
The recent Bitcoin Price is highly volatile. To prevent risks and uphold financial stability, PBOC Shanghai and Financial Office of Shanghai have jointly met the major heads of BTCC to know the current status of Bitcoin trading. We have reminded BTCC the possible risks and require it operate strictly in accordance of laws and regulations of China. We have urged BTCC to conduct self-examination based on related laws and correct, if any, possible irregularities.
In accordance of Joint Notice if Bitcoin risk prevention by people’s bank of China, Ministry of Industry and information, China Securities Regulatory Commission China Banking Regulatory Commission, China Insurance Regulatory Commission, Bitcoin is a specific virtual goods. It is not law-based and compulsory like currency thus does not have the legal status as a currency. It shall not, should not be circulated as a currency in the market. Individuals and agencies should properly treat virtual goods and virtual currency. They should invest with rationale, bear the possible risks by their own, uphold their own assets and have a correct understanding and concept of currency.
For PBOC Beijing’s statement, it reads:
The recent Bitcoin Price is highly volatile. To prevent risks and uphold financial stability, PBOC Shanghai and Financial Office of Beijing have jointly met the major heads of OKcoin and Huobi to know the current status of Bitcoin trading. We have reminded BTCC the possible risks and require it operate strictly in accordance of laws and regulations of China. We have urged BTCC to conduct self-examination based on related laws and correct, if any, possible irregularities.
In accordance of Joint Notice if Bitcoin risk prevention by people’s bank of China, Ministry of Industry and information, China Securities Regulatory Commission China Banking Regulatory Commission, China Insurance Regulatory Commission, Bitcoin is a specific virtual goods. It is not law-based and compulsory like currency thus does not have the legal status as a currency. It shall not, should not be circulated as a currency in the market. Individuals and agencies should properly treat virtual goods and virtual currency. They should invest with rationale in Bitcoin and thus bear the possible risks by their own.
BTCC, huobi, OKcoin account for 90% of the global Bitcoin trading. Their heads have yet to comment on the issue. But till now no “ban” is given, no restrictive measures have been mentioned officially.
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