Central Bank Governor: Bitcoin is not a currency, so how can it be banned?

Central Bank Governor: Bitcoin is not a currency, so how can it be banned?
The governor of the central bank, Zhou Xiaochuan, said at the Boao Forum for Asia today that Bitcoin is not a currency approved by the central bank, and there is no question of banning it. In response to the question of whether the central bank will ban Bitcoin, Zhou said that Bitcoin is not a payment currency, so there is no question of banning it. But he also expressed concerns about the tradability of Bitcoin. "Bitcoin is a tradable asset, not quite like a payment currency. For example, some people collected stamps in the past, but they were mainly collectibles." At the end of last year, the central bank made it clear that Bitcoin is not a currency. In March this year, there were rumors that the central bank would take action again and require domestic commercial banks to close Bitcoin accounts within a time limit, but this news was later denied by the central bank. The price of Bitcoin has continued to fall recently and has now fallen to $403, the lowest level since November 2013. The following is part of Zhou Xiaochuan's speech at the Boao Forum: Q: Will the central bank ban Bitcoin in the future? Why? Zhou Xiaochuan: Bitcoin was not originally launched by the central bank, nor is it a currency approved by the central bank, so there is no question of banning it. What are we mainly worried about now? Bitcoin is like an asset that can be traded, not a payment currency. So, it is not like, for example, in the past, people collected stamps, which had prices written on them, but they were mainly collectibles and traded as assets, not payment currencies. So it should be said that it does not fall into the category of whether we should ban it or not.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.

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