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Friday, May 12, 2017
Chan Kung: China's Central Bank should restrict Bitcoins
ANBOUND

As Bitcoin is becoming is at new all-time high and its price increases, there is a wave of capital outflow in China. After investigating the development and impact of Bitcoin at home and abroad, Anbound's chief researcher Chan Kung made it clear that China's Central Bank should completely block the deal of Bitcoin in China. This is actually a kind of "public underground finance" that the Central Bank cannot effectively control, it is increasingly being used for money laundering and capital flight, and will create huge impact for the existing currency creation, credit expansion and financial risk control. China can consider a thorough study of the problem, and then release the counter currency and other virtual currency restrictions.

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