PBOC Can Change Its Opinion of Crypto

Experts believe that the new head of the People's Bank of China (PBOC) can direct the regulatory policy of the agency in a different direction
20 March 2018   458

Yi Gang, who was "unexpectedly" appointed as Governor of the People's Bank, had already spoken about Bitcoin in a positive way. This is reported by Cointelegraph.

So, in 2013 he said that the major cryptocurrency cannot be legally recognized by the PBOC in the near future. However, at the same time, he recognized the transactional potential of Bitcoin, adding that, “ordinary people have the freedom to participate.”

In addition, unlike the deputy head of the People's Bank, who said last December that Bitcoin was destined to "die" Gang said that the crypto currency would attract public attention for a long time.

According to Tommy Xie who represents China in Singapore's OCBC Bank, for several years now the new governor has made a significant contribution to the country's economic reforms.

Currently, China's policy towards the crypto-currencies remains unchanged - the country is banned ICO and any exchanges.

Barclays to Freeze Crypto Trading Project

This is reported by two anonymous sources to Financial News London
15 October 2018   197

One of the largest UK bank Barclays has suspended work on its own crypto-trading project, Financial News reports citing two sources familiar with the situation.

Earlier this year, the bank gathered a high profile team to explore opportunities for cryptocurrency trading as part of its own business. However, according to one source, the initiative was “frozen”.

The former head of Barclays for energy trading, Chris Tyrer, who headed the “digital assets project,” left the bank in September after management decided to freeze the initiative.

Together with Tyrer, the macro-strategy in the field of foreign exchange and emerging markets was Marvin Barth, Senior Technical Specialist Lee Brain, and Consultant Matthew Jobb Duval.

Their task was to determine whether cryptocurrencies are an asset class with far-reaching prospects, whether Barclays customers are interested in them and what type of IT infrastructure will be needed to work with them, the source said.