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Tag Archive: PBOC

Altcoin News, Bitcoin, Bitcoin Regulation, News, News teaser
China’s State ‘Cryptocurrency’ to Feature Negative Interest Rates

Over the weekend, signs of positive sentiment have entered the cryptocurrency market, with Bitcoin potentially having found its footing and many altcoins surging with confidence. However, news out of China is aiming to rain on the parade — as the People’s Bank of China looks to crack down further on Bitcoin while creating its own digital currency. People’s Bank vs. People’s Currency According to various reports, the People’s Bank of China (PBOC) plans on placing
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Adam James · April 9, 2018 · 1:00 pm
Bitcoin, Bitcoin Regulation, Legislation, Markets and Prices, Mining, News, News teaser
People’s Bank of China Deputy Governor: ‘Bitcoin is Dying’

Once upon a time, China was the leader in bitcoin mining, accounting for an estimated 71% of the bitcoin mining market. But that bubble burst in September 2017 when the Chinese Central Bank completely banned all ICOs. In spite of the ban, Bitcoin has managed to flourish, increasing by over 144% since the ban. Still, China isn’t worried. According to the PBOC, Bitcoin is dying. Speaking at a financial forum in Shanghai over the weekend,
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Jinia Shawdagor · December 4, 2017 · 10:30 pm
Altcoins, Bitcoin, Bitcoin Exchange, Bitcoin Regulation, Markets and Prices, News, News teaser
Bitpocalypse? Bitcoin Price Plunges as Chinese Exchanges Close

Major Chinese exchanges BTCChina and ViaBTC have announced they will shut down operations causing Bitcoin price to plunge as OKCoin and Huobi are expected to follow. ICO Crackdown The recent days have been very interesting for cryptocurrency traders worldwide. On September 4, news emerged that Chinese regulators banned all Initial Coin Offerings that are based in China. The report from the People’s Bank of China stated that no individual or organization may longer raise funds through
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Ashour Iesho · September 15, 2017 · 7:00 am
Altcoin News, Altcoins, News, News teaser
China’s Central Bank Will Soon Regulate ICO’s

The People’s Bank of China is turning its attention Initial Coin Offerings (ICO), seeking to regulate the new form of crowdfunding. China to Regulate ICOs Although cryptocurrency withdrawals are back on the big three Chinese exchanges, the People’s Bank of China (PBoC) isn’t quite through with the cryptoworld. Now it seems like it’s going after Initial Coin Offerings (ICOs), seeking to regulate the new phenomena in the crowdfunding world. Chinese publication Weixin reports that Yao Qian, head of Digital
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Antonio Madeira · June 2, 2017 · 9:00 am
Bitcoin, Bitcoin Businesses, Bitcoin Exchange, Bitcoin Regulation, News, News teaser, Op-Ed
The China Syndrome: Are California’s Bitcoin Exchanges Doomed?

Increasing regulatory pressures have eviscerated trading volumes across Bitcoin exchanges in China. Bitcoin’s shifting volumes and price are signaling that further disintermediation is inevitable, which could also spell trouble for Western exchanges like Coinbase and Kraken. China Regulates Bitcoin Exchanges Increasing regulation of the Bitcoin market in China by the People’s Bank (PBoC) has characterized the first Quarter of 2017. First they banned margin-trading. Then they halted withdrawals of Bitcoin from Chinese exchanges in February. The latest news is that
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SG Kinsmann · March 23, 2017 · 4:30 am
Bitcoin, Bitcoin Exchange, Bitcoin Regulation, News, News teaser
Chinese Bitcoin Exchanges Expected to Resume Withdrawals Soon

Withdrawals are expected to resume soon in China as Bitcoin exchanges are finalizing regulatory guidelines with the country’s central bank. Exchange Requests Proof of Customers’ Funds It seems like the moratorium on cryptocurrency withdrawals from Chinese Bitcoin exchanges imposed by the People’s Bank of China (PBoC) may be coming to an end. A new round of PBoC meetings are being held this week to discuss the regulation draft details with the heads of Chinese BTC exchanges, according to
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Antonio Madeira · March 21, 2017 · 10:00 am
Bitcoin, Bitcoin Exchange, Bitcoin Regulation, Interviews, News, News teaser, Uncategorized
BitKan: Our Volume Grew ‘Twelve Times’ Since PBoC Halted Withdrawals

Bitcoinist spoke with Leon Liu, the CEO of BitKan, a Chinese P2P Bitcoin trading service, to get a better idea on the current situation following the recent regulatory clampdown on Bitcoin exchange withdrawals in the country. Bitcoinist: What kind of trading services does BitKan provide? Leon Liu (LL): BitKan provides P2P bitcoin trading services with broker match-making to save time for our users. During a trade, BitKan acts as an escrow service, guaranteeing funds delivery for
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Allen Scott · March 7, 2017 · 12:00 pm
Altcoin News, Altcoin Price, Altcoins, Bitcoin, Bitcoin Exchange, Bitcoin Price, Bitcoin Regulation, News, News teaser
Bitcoin Price Drops Over 12% as Chinese Exchanges May Become ‘Bitcoin Banks’

It looks like the roller coaster that is Bitcoin price in 2017 is far from over. January has typically been a volatile month for Bitcoin values, but February is becoming very unstable, with the announcement that Chinese exchanges are moving to new policies and restricting Bitcoin withdrawals for the next month. PBoC Strikes Again: Price Slides Over 12% The issues for Bitcoin price began yesterday, as the heads of nine Bitcoin exchanges in China were
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Evander Smart · February 9, 2017 · 9:30 am
Bitcoin, Bitcoin Price, Bitcoin Regulation, News, News teaser
Secret China Regulator Meeting Makes Bitcoin Volatile Again

Bitcoin dropped 3% Wednesday after news broke of a closed meeting between Chinese exchanges and the People’s Bank of China (PBoC). Money Laundering ‘On Agenda’ The talks, which are ongoing, are the latest in a series of investigatory moves by regulators, who have expressed concerns about the legality of certain financial practices. Local news resource cnLedger said the meetings were unconfirmed, but Bloomberg quoted unnamed sources stating the the meeting was indeed going ahead. Unconfirmed:
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William Suberg · February 8, 2017 · 4:42 am
Bitcoin, Blockchain Technology, Legislation, News, News teaser, Technology
China Trials Its Own ‘Bitcoin’ But Here’s Why It Will Probably Suck

After a successful trial, China is one step closer to becoming the first country in the world to issue its own blockchain-based virtual currency. However, it will probably be a far cry from its open-access, transparent and immutable counterpart, Bitcoin. China: ‘YuanCoin’ Trial a Success Following the rise in popularity of the first blockchain-based currency in the world, i.e. Bitcoin, the People’s Bank of China (PBOC) is getting closer to issuing its own, albeit centralized, government-backed sovereign digital
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Antonio Madeira · January 26, 2017 · 11:30 am
Bitcoin, Bitcoin Exchange, Bitcoin Regulation, News, News teaser
Bitcoin Price Slides as China’s Central Bank Probes Exchanges

Bitcoin fell sharply Wednesday to a 2017 low as China’s central bank sought to inspect flagship Bitcoin exchange BTCC for malpractice including “market manipulation.” ‘Joint Inspection’ Results Unknown A translated statement from the Shanghai arm of the People’s Bank of China (PBOC) tweeted by cnLedger Wednesday showed BTCC (also known as BTCChina) is subject to checks for a raft of potentially criminalizing operations. The bank’s Beijing branch also released a similar announcement Wednesday. The “joint inspection” by
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William Suberg · January 11, 2017 · 6:00 am
Bitcoin, Bitcoin Investment, Bitcoin Price, Bitcoin Regulation, News, News teaser
‘Zero-Risk’ for Governments to Buy Bitcoin as Reserves, Abra CEO Says

The surge in the price of Bitcoin may lead to governments stocking up on Bitcoin in an unprecedented “digital commodity race.” Governments’ Bitcoin Reserves? Currently, sitting at around $900 with a $14.55 billion market cap, Bitcoin has been making regular appearances in mainstream media, gaining attention from regular users as well as investors. However, a class of investors that is usually not associated with Bitcoin may soon start to stock up on the digital currency:
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Antonio Madeira · January 9, 2017 · 1:00 pm
Bitcoin, Bitcoin Investment, Bitcoin Price, News, News teaser
Investors Can’t Ignore Bitcoin Anymore: Up Over 25% in 25 Days

Bitcoin price has risen 25% in the past 25 days. Here are some of its advantages you might want to consider for your next economic power play so you don’t miss out on what’s turning out to be the one of the best investments in decades. Adding Bitcoin to Your Portfolio Many people are interested in a good investment, maybe for their retirement or for their children’s college fund. We all should know that the more you hold
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Evander Smart · December 28, 2016 · 3:00 am
Bitcoin, Bitcoin Breaking News Brief, Breaking Bitcoin News, Breaking News, News, News teaser
Virtual Currency Issued By PBOC Will Not Use Blockchain Technology

While there seems to be a lot of doubt regarding the future of cash right now, the governor of China’s central bank feels virtual currency will eventually replace this archaic method of transferring value. At the same time, PBOC governor Zhou Xiaochuan was quick to add how the Chinese government will regulate all virtual currencies used as legal tender, indicating there are no plans to embrace Bitcoin by any means. Also read: Tokken Puts the
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Jp Buntinx · February 17, 2016 · 3:35 am
Bitcoin Breaking News Brief, Breaking Bitcoin News, Breaking News
PBOC Governor Speaks About Digital Currencies

The People’s Bank of China (PBOC) Governor Zhou Xiaochuan was just recently interviewed and had quite a bit to say concerning digital currency. The central bank official spoke of capital outflow, Bitcoin, and centralized digital yuan. Xiaochuan expressed a lot of knowledge on the subject, and he says the PBOC has been researching digital currency for quite some time now. Xiaochuan states in the written transcript: Also read: Jamie Dimon: Bitcoin Doomed While Blockchain Is
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Jamie Redman · February 15, 2016 · 9:07 am
Bitcoin, Bitcoin Breaking News Brief, Breaking Bitcoin News, Breaking News, News, News teaser
Bitcoin Hangs In There While China Faces More Financial Worries

Financial trouble has been brewing in China for several months now, and traditional stock markets remain very shaky ground for the time being. Keeping in mind how the Chinese economy will affect nearly every other country in the world, things are not looking overly positive right now. By the looks of things, global lenders are not that confident in the Chinese economy anymore, which could lead to further turmoil down the line. Also read: Ethereum
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Jp Buntinx · February 2, 2016 · 4:07 am