It's clear that the People's Bank of China (PBOC) just cracked down on the initial offerings of cybercurrencies (as did the SEC). But it's possible that they just made all virtual currencies illegal. If someone can read Chinese, they can provide much better insights than Google Translate…

Google translate says: The tokens or "virtual currency" used in coinage financing are not issued by the monetary authorities, do not have legal and monetary properties such as indemnity and coercion, do not have legal status equivalent to money, and can not and should not be circulated as a currency in the market use.

anonymous writes: 

In China, what are said to be not allowed are always allowed for somebody, or are done by many regardless; and what are said to be allowed are always not allowed for somebody, or may not be done by many regardless.





Speak your mind

1 Comment so far

  1. Drop In Visitor on September 11, 2017 4:32 pm

    I work with a few Chinese and the sensorship they tell of is so… fast. Sometimes they see something written and minutes later it’s gone.

    So if the govt wants to block some currency, I think it could to do it effectively.


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