📣 News from China: Chinese Cryptocurrency Exchanges will NOT be banned, but under increased supervision? - PoBC Official says blockchain technology is encouraged 📣

Another day, another news tidbit from China regarding the recent FUD surrounding regulations and ICO bans. I have come across two articles from the Chinese news today which give some answers on the current situation.

While no official announcement has been made so far, Sun Guofeng, Director of the People’s Bank of China Institute of Finance, has come forward in this article to explain that blockchain technology is still encouraged in China, in spite of the recent ICO ban according to an article on 8btc.com. Concerns are expressed over fraudulent ICO's and from the article it does seem like ICO's will be either outlawed entirely or atleast tightly restricted although the translation leaves some to be desired.

Another rumour going around currently is about Chinese exchanges being forced to shut down and stop trading in Bitcoin and other Cryptocurrencies altogether. This short article on sosobtc.com appears to be a translation of the Chinese article below it, in which it is explained that Chinese Exchanges will NOT be forced to stop operations, but will be placed under strengthened supervision. This seems in line with the article above.

Wether these articles are truthful or part of the FUD campaigns going on, I don't know, but as I know many of you are invested in Cryptocurrencies that are affected by Chinese regulations I thought I would share. I'm still hodling everything I've got!

Links:

• http://news.8btc.com/pboc-official-encourages-blockchain-development-despite-ico-ban
• https://www.sosobtc.com/article/24045.html

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