Bank of China to See Crypto as Risk to Yuan

PBoC said cryptocurrencies will be one of its top priorities this year, in an effort to protect the national currency
29 March 2018   192

The People'sĀ Bank of China said that working with crypto-currencies is one of the priorities of the department for the current year as part of its policy to protect the national currency.

The People's Bank of China held a conferenceĀ this Thursday, which discussed the development of the country's monetary system.

Although the vice-governor of the PBoC, Fan Yifei, positively comments on the bank's success in researching and developing its own digital currency, at the same time he calls crypto-currencies one of the three biggest risks to the integrity of the yuan.

To implement its policy in this area, the PBoC intends to strengthen the regulatory requirements for representatives of the cryptocurrency industry both inside and outside the country.

Although Yafei did not name specific measures that his department is going to undertake, the corresponding decision fits into the broader program of China to combat financial products that could shake the country's financial stability.

It agrees with the comments of the previous head of the PBoC, Zhou Xiaochuan, who in early March criticized the market speculation using the crypto-currency and the risks they bear for China.

BOScoin sets up a meetup in Amsterdam

The first European BOScoin meetup will be held in Amsterdam on May 13 to introduce the platform to the public
21 April 2018   25

BOScoin is holding its first European meetup session on May 13 in Amsterdam. The venue is chosen to be at Berlage Meet and Workspace. During the meetup members of the team with CTO Yezune Choi and the community manager will be available to answer questions in order for BOScoin community to learn more about the project, and understand how it fits into the broader market. Mr. Choi will be presenting an overview of the BOScoin platform, and going into greater detail about the project's future plans, and technical aspects of the platform.

Among the topics to be covered there will be explanation of the technology and project's business strategy. Currently BOScoin has a working and functional blockchain network called tokenNet, which allows for the transfer of BOScoin from wallet to wallet.

The event starts at 13:30 local time.