Bitcoin is a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments, while Stablecoin is a cryptocurrency where the value is tied to an outside asset, such as the dollar or gold.
China considers Bitcoin and Stablecoin as cryptoassets, which means they are not seen as real currencies, but only as investment assets.
The nation is planning to improve the regulatory environment for these alternative investments, bank of china bitcoin ensure that speculative activity will not result in serious financial risks, said PBOC Vice-Governor Li Bo.
Unlike for Bitcoin, the regulations for some types of Stablecoin should be tighter, as they need to follow the regulations for payment tools issued by private sector banks or quasi-banking financial institutions, said Li.
Zhou Xiaochuan, former governor of the central bank, said the financial sector should continue to serve the real economy. Zhou also said that digital currency could benefit the real economy and support a large number of payments.
La PBoC lavora duramente per fermare il trading di criptovalute
Though financial regulators have expressed concern about cryptocurrencies, they are promoting the launch of the central bank digital currency. According to Li, authorities are planning to expand trials of the digital yuan, or e-CNY, in more cities and for various scenarios.
In addition, China is finding ways to exchange of various digital currencies issued by world's leading central banks, which is a complicated issue. We are choosing different options to experiment with various technologies. We are open-minded. The goal is to build a very solid domestic digital yuan and a healthy ecosystem," Li bank of china bitcoin.