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China’s Central Bank Announces Another Crackdown on All Types of Cryptocurrencies

March 29, Beijing- The People’s Bank of China (PBoC) outlined an agenda for 2018 and identified cracking down on cryptocurrency as a top priority to protect the national currency. Bitcoin hit a one-month low today as its price dipped more than 9% to slip below $7,000 USD. Bitcoin has fallen by more than 48% this quarter and the major decline is the largest ever in the span of a three-month period science 2011. Other mainstream cryptocurrencies includes Ripple and Litecoin also tumbled recently.

A Chinese national flag flutters outside the headquarters of the People's Bank of China, the Chinese central bank, in Beijing, April 3, 2014. REUTERS/Petar Kujundzic

Fan Yifei, the vice governor of PBoC, stated that the bank would “pursue the research and develop of China’s own digital currency but would also rectify the cryptocurrency market and crack down on all types of virtual currencies in the coming year.”

Fan further pointed out that, due to the development of digital economic, various payment methods may have a significant effect on the circulation and the issuance of RMB. The cryptocurrency market is still not mature enough, so the central bank is concern about the potential cryptocurrency threats which would harm the Chinese yuan. He emphasized that, protecting the national currency from digital currency threats would be one of PBoC’s top priorities in 2018.微信图片_20180330165715

Concerned analysts predict that the central bank would carry out a series of strict regulatory measures on virtual currencies pyramid selling and OTC trading activities in the near future.

Actually, although ICO and majority of the domestic token trading platforms were banned in September 2017, OCT exchange activities are still quite active in China. There are more than 2,000 kinds of altcoins in the market, most of them just use the concept of ‘blockchain’ without any intrinsic value. Investors also facing various risks involved in these kind of trading activities.

In order to prevent financial risks and safeguard financial stability, the substantial regulatory initiatives would be launched soon. In addition, China is not the only country plans to scrutiny on bitcoin and other digital assets. Lawmakers and regulators in the U.S. also have claimed they would tighten regulation.

COMMENTS(13)

  • BTCnews
    5 months ago BTCnews

    Litecoin Next Main Dark Web Currency? – 8BTC via BTCnews #Bitcoinhttp://news.8btc.com/litecoin-next-main-dark-web-currency …

  • Petr Misan
    5 months ago Petr Misan

    China’s Central Bank Announces Another Crackdown on All Types of Cryptocurrencies | http://NEWS.8BTC.COM http://news.8btc.com/chinas-central-bank-announces-another-crackdown-on-all-types-of-cryptocurrencies …

  • さりー@仮想通貨
    5 months ago さりー@仮想通貨

    PBoC砲に備えよw
    中国の中央銀行は仮想通貨すべての更なる摘発を発表http://news.8btc.com/chinas-central-bank-announces-another-crackdown-on-all-types-of-cryptocurrencies …

  • さりー@仮想通貨
    5 months ago さりー@仮想通貨

    記事の元ネタ
    http://3g.cnfol.com/forex/jingjiyaowen/20180330/26218474.shtml …

  • さりー@仮想通貨
    5 months ago さりー@仮想通貨

    仮想通貨に詳しい新総裁はどこ行った〜w

  • さりー@仮想通貨
    5 months ago さりー@仮想通貨

    きっと勘違いに違いない
    あとでちゃんと記事読むか

  • Type drunker
    5 months ago Type drunker

    でもこれこそセリクラ開始の合図か
    なら、全力買いの準備や

  • Key Maker
    5 months ago Key Maker

    これは中国語原文の誤訳なので、仮想通貨とは全然関係ありません。
    金貨、銀貨の偽物を取り締まる規制です。

  • さりー@仮想通貨
    5 months ago さりー@仮想通貨

    ご指摘ありがとうございます!向こうの事詳しいんですね

  • Moon dance
    5 months ago Moon dance

    URL失念しましたが、別のニュースソースではregulation(規制=ポジティブなイメージ)となっていて、ここではcrackdown(取り締まり=ネガティブ)となっているので、煽り記事の可能性もあります。どちらにせよ様子見ですね、、、

  • ミー@仮想通貨ブログのママコイナー
    5 months ago ミー@仮想通貨ブログのママコイナー

    『PBoCの副総裁であるファン・イーフェイ氏は、同銀行が「中国のデジタル通貨の研究と開発を追求するが、暗号化市場を是正し、来年にはあらゆる種類の仮想通貨を打ち切る」と述べた。』

    中国オリジナルのデジタル通貨を開発して、その他の仮想通貨は淘汰すると…http://news.8btc.com/chinas-central-bank-announces-another-crackdown-on-all-types-of-cryptocurrencies …

  • Iku3.0(catapult)
    5 months ago Iku3.0(catapult)

    バッカじゃないのと言いたいが中国なら出来ちゃいそうだw

  • 增大网
    4 months ago 增大网

    我踩故我在,下次还会来!

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