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Author Topic: [2018-04-17] China’s Position on Crypto Likely to Harden Under New PBOC Governor  (Read 33 times)
DeadCoin
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April 17, 2018, 03:35:38 AM
 #1

https://news.bitcoin.com/chinas-position-crypto-likely-harden-under-new-pboc-governor/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

New PBOC Governor Reaffirms Stern Position Regarding Cryptocurrencies

China's Position on Crypto Likely to Harden Under New PBOC GovernorWhilst attending a forum on monetary policy at Asia Annual Conference 2018’s Boao Forum, China’s recently appointed central bank governor, Yi Gang, indicated that the PBOC’s stance regarding virtual currencies will not soften under his leadership.

Yi Gang described cryptocurrencies as offering little to contribute to China’s economy at large, defending the government’s cautious stance with regards to virtual currencies. “In general, PBOC is maintaining tight supervision among virtual currency, in the meantime, the central bank is also exploring a better way for digital currency to play a more active role in service to the real economy,” Yi Gang said.

Yi Gang also again reaffirmed the Chinese state’s design to be globally competitive as a leader in blockchain innovation and adoption.

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April 17, 2018, 03:46:13 AM
 #2

No one gives a f*** if the new governor will just continue the policy of his predecessors or even make a harder stance. They already made a sudden U-turn and its been months already and life still goes on without them. Even Bitmain has already made contingency plans to move somewhere if bitcoin mining farms will be the next logically target for the new PBoC governor. I guess everyone here doesn't care as well if they really push out crypto currencies out of their economy because there are a lot of countries willing to fill the void.

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April 17, 2018, 04:34:13 AM
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Though it can help a lot if the China market is opened for cryptocurrency we have to remember that it can also entails many big headaches just like what happened last year. Bitcoin almost reached the 20K level last year when China was already discounted as an important market player. In my estimate, cryptocurrency can better be without the China market because its government always loves to make unnecessary interference. We should all forget about China.

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April 17, 2018, 08:33:13 PM
 #4

China keeps imposing negative vibration against bitcoin and other crypto currencies which really causes its citizens in the crypto community loose a lot of opportunities as well the crypto currencies values fall to the ground.  Really disappointing when seeing other countries do adapt and gain lot good out of crypto currencies. What really makes keep this moment? Internal politics? Banks? Do they want to keep their fiat value up among crypto currencies? Crypto is not going to harm any authority by any means. What do they really need?

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April 17, 2018, 11:02:48 PM
 #5

2016 ~ China is planning to regulate the crypto market.
2017 ~ China enforces the first regulations.
2018 ~ China 'bans' crypto.
2019 ~ China bans crypto.
2020 ~ China intensifies ban on crypto.
2021 ~ China more than ever intensifies ban on crypto.
2022 ~ China plans to come up with even harsher regulations.
2023 ~ China considers to increase penalties for crypto usage.
2024 ~ China bans crypto again.
2025 ~ China realized it banned crypto years ago already. Cheesy

Seriously, it's starting to become one heck of a freak show. Let them do whatever they want with crypto in their country. China is only digging itself deeper in their own misery. Let them have it their way.

Crypto doesn't need China. Eventually it will lead to Chinese innovation in crypto terms to flow into other Asian countries with a friendly crypto climate. Japan is only becoming stronger because of this, and they know that.

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