#PBOC

Pro-Blockchain, Anti-Cryptocurrency; China Leads in Blockchain Projects Globally

April 2, 2019 by Tom Nyarunda at Adoption, Blockchain, News

Though China may have banned cryptocurrency trading and initial coin offerings (ICOs), a new report shows that the country leads the world in blockchain projects, accounting for at least 25 percent of all ongoing blockchain projects. This according to an April 2, 2019 report from China.org. A Range Of...

Shenzhen Court Says Bitcoin Should Be Legally Protected as Property

October 28, 2018 by Priyeshu Garg at Bitcoin, Finance, News, Platform, Regulation

An arbitration body in China has ruled that despite the country's central bank's ban on cryptocurrency trading, bitcoin should still be legally protected as a property with economic values, Shenzhen Court announced on their official WeChat account on October 25, 2018. Chinese Court Confirms Bitcoin Protected by Law The Shenzhen...

‘Bitcoin Supporter’ Yi Gang Announced as PBoC Governor

March 22, 2018 by Rahul Nambiampurath at Bitcoin, Finance, News, Regulation

On March 19, 2018, The National People’s Congress of China confirmed that economist Yi Gang would be the next governor of People’s Bank of China (PBoC). Mr. Yi Gang, who obtained his Ph.D. in Economics from the University of Illinois, is due to replace the current governor Zhou Xiaochuan as...

PBoC’s Bitcoin Withdrawal Suspension Serves as Reminder For Wallet Security

February 15, 2017 by Joseph Young at Altcoins, Bitcoin, Commentary, News

On February 9, Huobi and OKCoin, two of the largest bitcoin exchanges in China, officially suspended withdrawals for both bitcoin and Litecoin users in compliance with the demand of the People’s Bank of China (PBoC). In late January, PBoC asked Huobi and OKCoin to overhaul their Anti-Money Laundering (AML) and...

Chinese Exchanges Suspend Withdrawals Due to Regulation

February 9, 2017 by Christoph Bergmann at Bitcoin, News, Regulation

China continues to enforce regulations on Bitcoin. The large exchanges suspend withdrawals of bitcoin and litecoin while implementing anti-money laundering rules, which is announced to need at least a month of time. Also, the central bank meets the other exchanges and gives orders. For several weeks the Chinese central bank,...

PBOC Moves Closer to Digital Currency: BTCManager’s Week in Review January 30

January 30, 2017 by Jamie Holmes at News, News Digest

While Nasdaq successfully tested e-voting on the blockchain, China’s central bank and financial sector are eyeing the blockchain to leapfrog the rest of the world with this technology. The first trial of a blockchain-based system was announced by the PBOC as they hope to capture the 'first-mover advantage' with regards...

PBOC Moves Toward First Central Bank Blockchain Application

January 29, 2017 by Nigel Dollentas at Bitcoin, Finance, News, Tech

The PBOC announced January 27 the completion of a successful trial run for a project regarding a digital bank acceptance exchange, making it the first central bank to come within grasp of testing its digital currency, or digital bill, and putting forward a real application for the blockchain. The trial...

China’s Central Bank Governor: Digital Currencies Will Inevitably Replace Cash

February 17, 2016 by Joseph Young at Business, News, Regulation

Zhou Xiaochuan, the governor of the People’s Bank of China (PBOC), has been in charge of the monetary policy of the nation’s central bank since 2002. For nearly a decade and half, Zhou has successfully pushed China’s financial system reform forward, calling for the renminbi, or the Chinese yuan, to...