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Bitcoin Gets a Cautious Nod From China’s Central Bank

Bitcoin Gets a Cautious Nod From China’s Central Bank

This week, the Chinese government issued its most direct statement to date on the legitimacy of Bitcoin, the thus-far-unregulated digital currency that has taken China, the United States and other countries by storm in recent months.

Yi Gang, deputy governor, People's Bank of ChinaEverett Kennedy Brown/European Pressphoto AgencyYi Gang, deputy governor, People’s Bank of China

Speaking at an economic forum on Wednesday, Yi Gang, the deputy governor of the People’s Bank of China and director of the State Administration of Foreign Exchange, said that it would be impossible for China’s central bank to recognize the Bitcoin as a legitimate financial instrument in the near future. But, Mr. Yi added, people are free to participate in the Bitcoin market and he would personally adopt a long-term perspective on the currency.


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This entry was posted on November 22, 2013 by and tagged , .

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