China, April 18, 2021 /AlexaBlockchain/ – China Considers Bitcoin and Crypto as ‘Alternative Investment Product’, according to an statement by PBoC Deputy Governor.
- Li Bo, deputy governor of the Central Bank of China, said that crypto assets such as Bitcoin should be used as investment tools or alternative investments.
- This is the first time that the Chinese government has recognized the asset value of cryptocurrencies.
- Li Bo said that crypto assets are an investment option. It is not a currency in itself, but an alternative investment product. China is studying regulatory policies.
- Li Bo also said that for stablecoins issued by private companies, stricter supervision than Bitcoin is required.
Wu Blockchain, which covers China Crypto and Blockchain space, tweeted:
Breaking: Li Bo, deputy governor of the Central Bank of China, said that crypto assets such as Bitcoin should be used as investment tools or alternative investments. This is the first time that the Chinese government has recognized the asset value of cryptocurrencies. pic.twitter.com/bgDIVA1eMJ
— Wu Blockchain (@WuBlockchain) April 18, 2021