The People’s Bank of China, also known as PBOC, has been in the media’s attention during the last month, as it is currently deliberating the faith of digital currency and digital currency exchanges operating in the Asian country.
A recent digest from the PBOC related on the current Yuan rates, market sentiment, a couple of new developments in the country’s exchange policies, but also changes in the financial market regulations, and Chinese economic data.
Digital currencies are also mentioned, and in this case, it has been stated that bitcoin exchanges are unlikely to become official exchanges in China in the near future. Not only this, as the Chairman of the Bank’s Operation Office, Zhou Xuedong mentioned that a couple of price bubbles were noticed on bitcoin, and that China is in desperate needed of a proper legislative framework concerning Bitcoin trading. Because of this, the regulator will likely introduce a couple of other measures in order to help strengthen the oversight that the PBOC plays above Bitcoin exchanges and platforms operating in China.