The price of bitcoin recovered from a low of roughly $380 on 11th April, on the news that Zhou Xiaochuan, the governor of the People’s Bank of China (PBOC) issued new statements about bitcoin. According to reports, during Boao Forum, Xiaochuan offered his opinion on the nascent technology, saying that China would not seek to ban bitcoin and other digital currencies entirely. Said Xiaochuan:
“It is out of the question of banning bitcoin as it is not started by central bank.”
Xiaochuan continued, offering a potential new definition of bitcoin under Chinese law which suggests the PBOC, China’s central bank, may be actively considering how to regulate bitcoin:
“Bitcoin is more a kind of tradable and collectible asset, such as stamps rather than a payment currency.”
The price of bitcoin on the CoinDesk UDS Bitcoin Price Index (BPI) rose sharply on the news, climbing more than 18% at press time to pass $420. The price of bitcoin on the CoinDesk CNY BPI was up 12.9% at press time to reach ¥2630.70, up from the day’s open of ¥2,329.99.
April 11, 2014 at 02:02PMLatest Bitcoin News | BTC/LTC Robot | Mining ASICS | BTC Debit Card
