Leading Chinese Newspaper People did publish a writing relating to the recent “ban bitcoin rumors” commenting that it is not realistic nor feasible.
Officials and the state should only take note of virtual currencies potential to raise could-be moves in the domestic economy – added the author, Liu Xiaolei – Guanghua University professor:
“Given the decentralized p2p trading characteristics of cryptocurrencies such as Bitcoin, it is neither realistic nor feasible to ban Bitcoin.
If Bitcoin has no value in the real economy, but rather only the value as a speculative investment, then limiting the speculation will help funds from Bitcoin speculation to return to the real economy.”
It was written as part of a more expanded opinion about the banning of ICO’s that happened last week in China.
The news are inflicting the market in general even it is not government confirmed, but if it does Bitcoin to fiat exchanges functionality could be interrupted.
From Liu’s side of the table when it comes to exchanges the supervision and control when it comes to trading should be strengthen if it is required.
However when it comes to ICOs cautious should be echoed all around as warning releases from officials in a international scare are being given out.
These most recently included Canada, the UK and Hong Kong.