Chinese Congresswoman: ‘PBOC Should be Responsible for Bitcoin AML’

[jamie.redman1]

More information on the developments in China have been coming out recently, concerning the new regulations of Chinese bitcoin exchanges. On March 9th, Wu Xiaolin, the former deputy governor of the People’s Bank of China (PBOC) and congresswoman for the National People’s Congress, told a local reporter the central bank should be responsible for these types of bitcoin trading platforms.

“Bitcoin is a relatively successful application of blockchain technology,” details the translated commentary from congresswoman Wu Xiaolin. “Now different governments and regulators have different options on bitcoin. In China, we defined it as a digital asset. There are other countries considering it as a decentralized currency without legal compensation characteristics.”

Read More Here: https://news.bitcoin.com/chinese-congre ... tcoin-aml/