The folks over at BTC China — now the world’s largest bitcoin exchange — are apparently in talks with Chinese regulators in hopes of getting Bitcoin accepted and approved as an “official currency”, according to a Monday report by Business Week.
These talks, described as “low-level”, would allow the use of the digital currency for the buying and selling of goods in the People’s Republic of China, Reported members of these talks include officials from the “People’s Bank of China, the China Banking Regulatory Commission, and the China Securities Regulatory Commission.”
BTC China head honcho Bobby Lee has said the company has been unable to enter “high-level” talks with regulators, despite their lower-level talks.
“They’ll ask us ‘how should you be regulated,’ and I’ll say ‘Hey, here’s what we’ve done proactively and here’s how we think you should regulate us,” he said to Business Week.
Efforts to get Bitcoin out from it’s current “gray area” in Chinese economics persists. We’ll have more information as it becomes available.