News
Peoples Bank Of China Vows To Dispose Of Cryptocurrency
Summary: The Peoples Bank of China (PBoC) released a statement on Friday, vowing to dispose of cryptocurrency exchanges. China which in the wake of President Xi Jinping’s comments seemed to be taking a less strict approach to cryptocurrency has done a complete 180 on their stance. The PBoC has made it clear that while they see ...
The Peoples Bank of China (PBoC) released a statement on Friday, vowing to dispose of cryptocurrency exchanges.
China which in the wake of President Xi Jinping’s comments seemed to be taking a less strict approach to cryptocurrency has done a complete 180 on their stance. The PBoC has made it clear that while they see blockchain as the future, virtual currency is not to be a part of that future.
The notice roughly translated to, “The People’s Bank of China will continue to implement the requirements of the “Announcement” [2017 ban] and continuously monitor the virtual currency business activities within the jurisdiction. Once it is discovered, it will be disposed of immediately, and it will be prevented from happening early.”
This announcement comes after the PBoC’s Shanghai unit and the Shanghai government inspected cryptocurrency exchanges on Thursday. The Block reported that cryptocurrency exchange, Binance had their Shanghai office raided and shutdown, however, Binance still denies the reports.
Ramsey Baker
Tags: Binance,Blockchain,Cryptocurrency,Shanghai
Link: Peoples Bank Of China Vows To Dispose Of Cryptocurrency [Copy]
