Major Chinese news outlet People has released an article stating it is “not feasible” to ban Bitcoin in China.
According to the author, Guanghua University professor Liu Xiaolei, authorities should only be concerned about cryptocurrency’s potential to increase speculative moves in the domestic economy.
“Given the decentralized p2p trading characteristics of cryptocurrencies such as Bitcoin, it is neither realistic nor feasible to ban Bitcoin,” Liu wrote.
“...If Bitcoin has no value in the real economy, but rather only the value as a speculative investment, then limiting the speculation will help funds from Bitcoin speculation to return to the real economy.”
The comments came as part of a broader opinion piece on ICOs, which China banned outright last week.
Concerns are also mounting that Bitcoin-to-fiat exchange will also stop once again - these having influenced cryptocurrency prices considerably despite a lack of official information.
On the topic of exchanges, Liu agreed controls should be in place, saying it is “entirely feasible and necessary to strengthen the supervision of trading platforms for cryptocurrency.”
On ICOs, however, warnings remain, echoing continued suspicion from an increasing number of international regulators releasing official warnings to potential investors
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://cointelegraph.com/news/it-is-neither-realistic-nor-feasible-to-ban-bitcoin-chinas-leading-newspaper
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The genie is out of the bottle and there's not putting it back!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @mhirthi999! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Award for the number of upvotes
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @mhirthi999! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit