The new governor of China’s central bank has promised to stop speculation associated with cryptocurrency transactions in the country. Pan Gongsheng made the vow in a report detailing measures to maintain the stability of the Chinese financial market and prevent risks.
PBOC Prepares to Crack Down on Cryptocurrency Speculation and Money Laundering
The People’s Bank of China (PBOC) must adhere to the principle of seeking progress while maintaining stability, its Governor, Pan Gongsheng, said in his “Report on the Financial Work of the State Council” delivered at a Saturday meeting of the Standing Committee of the 14th National People’s Congress.
The document presents the monetary authority’s response to changes in the economic situation and reveals its intentions to boost confidence in the country’s financial system, prevent risks, expand domestic demand, and promote the continued economic recovery.
The report, quoted by Chinese media, marks several key areas the PBOC plans

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