You are here

China central bank urges rational investment in bitcoin

Friday, January 6, 2017 - 19:30

27-41042852 - 05_01_2017 - FILES-HONG KONG-FOREX-INTERNET-BANKING-BITCOIN.jpg
China's institutional and individual investors should take a rational approach to investing in virtual currencies such as bitcoin, the central bank said on Friday.

[BEIJING] China's institutional and individual investors should take a rational approach to investing in virtual currencies such as bitcoin, the central bank said on Friday.

Bitcoin prices had showed abnormal fluctuations, the Shanghai head office of the People's Bank of China (PBOC) said in a notice.

This prompted branch officials to meet representatives of a major bitcoin trading platform in China, BTCC.

They cautioned against potential risks in the platform's operations and asked it to carry out "self-inspection" according to the law, the bank said.

It stressed bitcoin is not a currency and cannot be circulated as a real currency in the market.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom