11-09 02:13 - 'Chinese Central Bank Touches on Crypto Assets for First Time（On November 2, China’s central bank released its China Financial Stability Report 2018. For the first time ever, the PBoC mentioned ICOs...' (cryptonewshub.com) by /u/CryptonewsHub removed from /r/Bitcoin within 3812-3822min
**Why hasn't the PBOC closed down the bitcoin exchanges?** Disallowing margin trading effectively stops the bitcoin exchanges from becoming a de factor casino. Enforcing AML on crypto withdrawals will drive away most uses as bitcoin is only pseudonymous.
I suspect that the only reason for them allowing crypto exchanges to exist in its' cripple form is because they want to retain chip fabrication, bitcoin mining and blockchain technology within China. Perhaps the next mandate will be to compel Chinese mining companies sell their bitcoins only on Chinese exchanges. This in the mistaken belief that it will keep bitcoin mined in China within China. Imagine how this message will come across to the rest of the bitcoin community around the world. Suddenly bitcoin inflation rate becomes localised. It is no longer 1800 bitcoins a day as 1400 will be retained within China. We may see a scramble for bitcoins on a country basis. Price will go to the moon as national exchanges try to outbid one another for the available bitcoins. Will this happen? hmmm
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PBOC Performs Pilot Tests for its Crypto People’s Bank of China has tested its crypto-asset payment system since 2014 but has abstained from an official launch. Now, a news report suggests the central bank may launch a pilot test of the digital currency in the cities of Shenzhen and Suzhou, onboarding local large-scale commercial banks and local telecom giants like Huawei. Bitcoin Cash 24h $ 270.23 +1.58 +0.59%. Litecoin 24h $ 55.41 +1.89%. Litecoin 24h $ 55.41 +1.03 +1.89%. Cardano 24h $ 0.107974-2.44%. Cardano 24h $ 0.107974-0.002703-2.44%. Bitcoin SV 24h $ 166.41 ... However, other watchers of the space say the government is not looking to crackdown on digital currencies like bitcoin and ethereum. ... The PBoC added that "any so-called tokens financing trading platform shall not engage in the exchange of legal currency and tokens." It even goes so far as to ban platforms from "provid[ing] pricing, information, [and] intermediary services." Adam Efrima, the ... China’s central bank, the People’s Bank of China (PBOC), has drafted a law to legalize the digital yuan and outlaw digital currencies issued by anyone else competing with it. Meanwhile, the central bank has been cracking down on gambling sites that use the stablecoin tether. China Drafts Law to Recognize Digital Yuan. The People’s Bank of China published a draft law on Friday that gives ... The People's Bank of China (PBOC) has reportedly filed 84 patents relating to its plans to launch a digital currency. The patents reveal the central bank's plans which include integrating digital ...
PBOC later strengthened their restrictions prohibiting payment service providers from providing payment solutions to local Bitcoin exchanges. It is currently legal to have and trade Bitcoin in ... https://cryptocomes.com/pbocs-new-governor-admires-bitcoin-could-ban-reversal-be-on-the-cards A new governor of the Chinese Central Bank has been appointed, ... China bans bitcoin, but this time it's different. First, the PBOC bans ICOs. Unexpectedly, exchanges close their doors. In reaction to this news, the price of bitcoin falls down like a grandma ... This video is unavailable. Watch Queue Queue. Watch Queue Queue Zhou Xiaochuan, the former governor of China’s central bank, discusses the similarities and differences between the U.S. and China.