The PBoC also said that it will allow for a level playing field for the foreign players to compete with the local players in the highly saturated payments market of China.
China is planning to completely ban activity of centralized cryptocurrency exchanges, targeting websites, mobile apps, people and businesses that provide exchange-like services.
Local miners from China are facing tough times as the government pushes ones, who are using cheap electricity, out of business.
According to the PBoC’s researcher, the introduction of a centralized digital currency will bring substantial changes to the future of the world’s financial industry.
Chineese authorities have ordered domestic Bitcoin exchanges to cease trading and immediately notify users of their closure.
Charlie Lee claims that OKCoin and Huobi are meeting regulators today. Whether this would make the two exchanges follow BTCC’s decision to halt trading remains unknown.
The People’s Bank of China recently announced its decision to introduce a complete ban on ICOs, a stunning move that sent shockwaves throughout the world. The global blockchain is abuzz, parsing this decision and its potential consequences.
The city-state of Singapore is likely to become favored ICO destination for blockchain startups following the initial coin offerings ban issued in China.
A significant Bitcoin drop by 13.6% has occured today after its historical maximum $4975 on September 2.
The People’s Bank of China (PBoC) banned initial coin offerings (ICOs) declaring them illegal, and asked all related fundraising activity to be halted immediately.
The institute will focus on the ability of the blockchain to settle real-time transactions in a secure and fast way.
China’s central bank unveiled plans to more closely inspect operations of digital currency exchanges in an effort to curb the yuan’s outflow.