• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Huobi CEO Pushes for Bitcoin Regulation in China. newsbtc bitcoin news.
Nexo Logo

Huobi CEO Pushes for Bitcoin Regulation in China

Yashu Gola by Yashu Gola
7 years ago
in Bitcoin
Reading Time: 2 mins read
Advertisement

The chief of one of the biggest Chinese Bitcoin exchanges has penned a journal seeking regulations for the digital currency sector.

The article, written by Huobi’s CEO Leon Li, has arrived in the wake of growing regulatory uncertainties in the Chinese Bitcoin market, which — ironically and reportedly — hosts more than 80% of the world’s digital currency transactions already. This might be the first time when an industry’s representative has stepped up to speak in favor of Bitcoin regulation, in spite of knowing the China’s strict stand on the digital currency in past.

https://twitter.com/huobicom/status/630942113484644352

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Li, however, aims to change just that — the perspective of the Chinese regulators towards the disruptive payment technologies like Bitcoin. In the article, he tried to introduce the virtual currency technology in the simplest manner, and further illustrated how it is being adopted by the world’s biggest economies, like the US and the EU, to create cheaper and secure payment systems.

Li further reminded how the Chinese Bitcoin industry, whose trading and mining operations are recorded to be the world’s highest, is still unable to add more local consumers due to the certain legal barriers. His comment was clearly on the People’s Bank of China which, in a draconian ruling last year, had banned local financial institutions from offering banking services to the Bitcoin businesses. Their notice had referred Bitcoin as a digital asset that promotes money laundering.

The definition of Bitcoin although has evolved much since the China’s ban. The digital currency is now more than just a payment method, thanks to its underlying technology blockchain. With institutions like Nasdaq, NYSE, and others joining the Bitcoin bandwagon, Li must be anticipating Chinese regulators to look at it from a fresh perspective. He, therefore, recommended PBOC to divide the regulations into two different part: one that focuses on payment, and other that focuses on the blockchain itself.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

“Research into Bitcoin and blockchain should be encouraged and supported strongly,” he wrote. “Chinese regulators must look at how the other jurisdictions — like the US — are opening its mind towards creating better policies for the digital currency sector.”

“This would reduce certain risks for both businesses and consumers,” he added.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.
Tags: bitcoinbitcoin exchangebitcoin exchange chinaBitcoin newsBitcoin Newsbitcoin regulations chinachinese bitcoin regulationchinese central bankhuobipboc
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

Bitcoin

Outflows Rock Bitcoin As Institutional Investor Sentiment Starts To Turn

2 hours ago
Bitcoin Still Very Bearish, Says Peter Schiff

Bitcoin Still Very Bearish, Says Peter Schiff

23 hours ago
Bitcoin Funding Rates Remain Positive As Bullish Sentiment Continues

Bitcoin Funding Rates Remain Positive As Bullish Sentiment Continues

24 hours ago
Bitcoin

Quant Explains How Bitcoin NUPL Cycles Are Getting Less Volatile With Time

2 days ago
Taro Taro Taro

Lightning Speed: Taro Wants To Abolish Cross-Border Payments, Disrupt The Market

3 days ago
Bitcoin Is An alternative To Economic Condition, Says CEO Of Franklin

Bitcoin Is An alternative To Economic Condition, Says CEO Of Franklin

4 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Celebrities Back IBAT at Battle Infinity Launch Party

August 16, 2022

Go Around the World with 1xBit and Win Crypto

August 16, 2022

Upcoming MetaShooter NFT sale on the biggest platforms on 17th of August! Hidden gem just revealed!

August 16, 2022

Investors Should Buy These Cryptos Today: Uniglo (GLO), Bitcoin (BTC) And Fantom (FTM)

August 16, 2022

Gnox (GNOX) Causing Polygon (MATIC) And Avalanche (AVAX) Investors To Bridge Over After Presale 100% Sold

August 16, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.