Liest man in der BRD natürlich wieder nicht: China’s central bank believes bitcoin will die
China once dominated the bitcoin markets, accounting for over 90% of global trading. But in September, its central bank banned initial coin offerings (ICOs) and stopped cryptocurrency exchanges from serving local customers. Looking back at the crackdowns, Pan Gongsheng, a deputy governor of the People’s Bank of China, believes Beijing made the right decisions.
Speaking at a financial forum in Shanghai over the weekend, Pan was asked to comment on bitcoin’s historical bull run, which saw the cryptocurrency’s value surpass $11,500, jumping more than 10-fold so far this year. Chinese media quoted him as saying (link in Chinese):
If we had not shut down bitcoin exchanges and cracked down on ICOs several months ago, if China still accounted for more than 80% of the world’s bitcoin trading and ICO fundraising, everyone, what would happen today? Thinking of this question makes me scared.
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