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These Chinese are, without any doubt, at the forefront of the price increases behind Bitcoin late this year, and as a result, the cryptocurrency has been making headlines just about everyone. We’re now at a point where huge businesses are accepting the currency, and even governments are recognizing Bitcoin as legal tender.
But for as long as Bitcoin has existed, there’s a been a black cloud above it. Central banks. It’s the exact opposite of what Bitcoin is all about. No authority, no central bank. So it’s interesting to know what the Chinese Central Bank has to say on Bitcoin.
According to the New York Times, the deputy governor of the People’s Bank of China (and also acts as the director of the State Administration of Foreign Exchange) Yi Gang has said that “it would be impossible for China’s central bank to recognize the Bitcoin as a legitimate financial instrument in the near future.”
There’s a light at the end of this tunnel, however. Gang says the Chinese people are more than free to participate in the Bitcoin community and he himself “would personally adopt a long-term perspective on the currency.”
