Bitcoin is an Investment Says PBOC’s Deputy

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Li Bo, the Deputy Governor of the People’s Bank of China (PBoC), has stated that bitcoin is an investment in what some are calling a reversal of China’s harsh stance towards cryptos. Bo said, according to a rough translation: “We believe that Bitcoin and stablecoins are crypto assets. Crypto assets are an investment option, not currency itself. It is an alternative investment. So we believe that crypto assets should play a major role in the future, as an investment tool or alternative investment. If it is used as an investment tool, many countries, including China, are studying what kind of regulatory environment should there be for such an investment method. It is necessary to ensure that speculation in such assets will not cause serious financial risks. In other words, before we figure out what regulatory rules are needed, we will continue to maintain the current measures and practices.” China has…

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