In case PBOC (People’s Bank of China) decides to tighten the restrictions of financial services that are operating with industry, major Chinese bitcoin exchanges will be ready to move their operations.
The number of Bitcoin trading operations in the Chinese currency has fallen from a peak of more than 90% to less than 1 % of the world’s total.
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’s central bank unveiled plans to more closely inspect operations of digital currency exchanges in an effort to curb the yuan’s outflow.
China’s central bank on Wednesday announced that it will try to issue digital currencies ‘as soon as possible’ to cut the costs of circulating traditional paper money and boost policymakers’ control of money supply.
Chinese bitcoin exchange FXBTC is set to be closed on May 10th due to the growing restrictions from the People’s Bank of China.