- Pan Gongsheng headed one of the management branches
- And in the future he may become the Governor of the Central Bank
- This reduces the chances that the Celestial Empire will turn towards cryptography
People’s Bank of China (PBOC) appointed to a high position a new figure. They became Pan Gongsheng, a well-known crypto-skeptic. Here is one of his famous quotes:
“Sit by the river and watch, one day the corpse of Bitcoin floats in front of you”
Pan also quoted French scientist Eric Pichet as saying that “Bitcoin is just a bubble for crazy speculation.”
Mr. Gongsheng has been with the NBK since 2012. He lobbied for laws that led to a ban on mining and trading in China.
Ban also headed a working group at the Central Bank that dealt with financial risks on the Internet. Among other things, the group was engaged in blocking blockchain companies and preventing the use of cryptocurrency in China.
Bloomberg journalists considerthat the new high post is preparation for the appointment of Pan to the post of Governor of the Central Bank.
This news reduced the hopes of investors for the revival of cryptography in China. However, the country chose the Hong Kong Special Region as a “sandbox” for its experiments. Recently, a new bill regulating the work of crypto firms began to operate here. Although the law is primarily aimed at protecting investors, this is a big step forward for China.
Hong Kong launched a task force for blockchain development yesterday. It will include representatives of government and business. The goal of the group is to introduce WEB3 into all spheres of life.