Appointment of the new governor of the people’s Bank of China : the market of crypto-currencies is facing increased repression

Many changes have taken place in the market of crypto-currencies in China in the last few weeks. Among them, there are notably the arrival of the new governor of the people’s Bank of China (PBOC). Moreover, the latter should strengthen the crackdown on the crypto-currency.

To better understand the position of the PBOC, here is a video in English explaining these facts :

The new governor of the PBOC reaffirms its position on crypto-currencies

During his participation in the Forum in Boao in Asia, the governor of the people’s Bank of chinese recently appointed, Yi Gang, stated that the position of the PBOC concerning the digital currency will not weaken under his direction. Yi Gang explained that crypto-currencies are not going to contribute to the economic development of the country.

Source : Wikimedia Commons. The new governor of the PBOC strengthens the position of China against the crypto-currencies.

He said that the PBOC will closely monitor the virtual currency. In addition, he also seeks a better way to exploit the potential of crypto-currency for the economic growth of China, he added. However, Yi Gang also confirmed that China is one of the leaders in the innovation and adoption of technology Blockchain.

A conference highlighting the technology Blockchain has been interrupted

The top Global Fintech and Blockchain 2018 has been stopped by the chinese authorities last week. The police explained that this decision was taken because of the security risks. Reports have claimed that the police had been informed by the conference participants. They would have indicated that an unidentified individual would be behind a ICO. It would have been a fraud.

PTP International, the company responsible for the organization of the event, did not understand the actions of the police. The company has stated that the conference is in compliance with the chinese regulation. An investigation is still underway to understand the reasons for the suspension.

Source : NewsBitcoin

  • anderson hooper

    Nice initiative Yi Gang, me, I expect only the positive effects in my transactions on the Exagon. I intend to be among the billionaires in bitcoin, if by this repression of my project with the trading of cryptomonnaies results quickly, it is even better. It is for this reason that I have increased my coins in my wallet to maximize my investments and my performance.