The people’s Bank of China, the country’s central bank, has a new governor. It is called Yi Gang. Judging by his comments, the top official of that institution, aged 60 years, is the first governor to adopt a positive position towards the Bitcoin in 15 years. It is indeed in favor of Bitcoin and other crypto-currencies. This bodes well for the future of this technology in China.
Those who have missed this announcement can discover it in this video in English :
The appointment of Yi Gang brings hope
On the 19th of march last, the national Assembly of chinese voted for the appointment of Yi Gang, the head of the PBoC. This appointment was not a surprise, since Mr. Gang already occupied the post of vice-governor. The new governor was born in Beijing would have taken up her duties with immediate effect. Zhou Xiaochuan, who has resigned, has been considered as a governor of a liberal. It is likely that Yi adopts the same policy of governance.
Yi Gang has already given positive reviews on the Bitcoin. In 2013, he has set this crypto-currency as the future of the economy. It seems to support the exchange of digital currency. During his speech at the G20 summit in 2016, Yi also spoke positively of the technology Blockchain.
A new era for the market of crypto-currencies in China ?
As a governor of the largest central bank in the world, Yi should pay attention to the way in which he will tell about Bitcoin. Approval of the crypto-currency is unlikely. In addition, this appointment may contribute to the development of the industry in the coming years.
Check out below a video in English relaying the explanation of a youtubeur on the future market of Bitcoin in China :
If no pressure is made by the institution, investors may operate effectively in this market, allowing a better growth of the sector of the digital currency in China.
Source : NewsBitcoin