Coinspeaker
Former PBoC Official Asks China to Revise Its Ban on Crypto
Close to two years into the nationwide ban on crypto-related transactions, a former executive of the People’s Bank of China (PBoC), Huang Yiping has asked the apex bank to revise its stance. As reported by Cointelegraph, Huang said the ban on the nascent asset class was necessary and advised in the short term, however, the crypto ban may not be strategic in the foreseeable future.
Huang served as a member of the Monetary Policy Committee (MPC) of the PBoC placing him high in the ranking in top decisions that bordered on the financial ecosystem. To Huang, banning crypto permanently may not be sustainable in the long run. He argued that such a move may prevent the world’s second-largest economy from catching on with evolutionary trends in the world of finance.
Among the opportunities Huang believes China will miss out on should it remain adamant in its crypto ban stance includes those related to blockchain and to
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