Bitcoin can be an asset but not currency - China central bank adviser

Many governments around the world are still mulling how to regulate and classify bitcoin, whose value surged in June to hit a record just shy of $3,000. China has classified it as a "virtual good".

Sheng Songcheng, adviser to the People's Bank of China , made comments in interview with magazine Yicai.

"Bitcoin does not have the fundamental attributes needed to be a currency as it is a string of code generated by complex algorithms...But I do not deny that virtual currencies have technical value and are a type of asset,"

He comment after the Chinese central bank increased fee of country's bitcoins exchange earlier.

He also said that Chinese monetary authorities should study issuing a central bank virtual currency how to regulate it and run properly.

On chinese exchanges price go down after this info.