The people’s Bank of China called cryptocurrency one of the main risks for the yuan

The Chinese government doesn’t like bitcoin and soon plans to prohibit transactions with it. Now the country is about 80 percent of the capacity of all mining, and a ban would negatively affect the entire industry. The Central Bank of China believes that digital money is one of the main threats to the national currency.

China vs cryptocurrency

The crypt — one of the three major risks to the integrity of the yuan, should the message on the website of the regulator. The government will soon take measures to combat this threat both in China and outside the country. Specific measures representatives of the Central Bank did not name.

The Central Bank plans to issue its own coins and is now studying the market. The details of the release of a national cryptocurrency is also not specified.

Earlier, the head of the people’s Bank of China Governor Zhou Xiaochuan saidthat the country does not recognize the cryptocurrency payment.

For example, Bitcoin and other digital currency market too quickly, and they are not reliable. Their too rapid expansion could lead to negative impact on consumers.

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