The First Time In 15 years, China’s First Central Bank Head Likes Bitcoin

For the first time in 15 years, the People’s Bank of China, the state’s central bank has appointed a new governor. He is called Mr. Yi Gang and based on past statements made by the 60-year-old shows that he has no problems with virtual currency. His positive standpoint towards bitcoin and other virtual currency connects greatly with the prospects of virtual currency in China.

The Appointment of New Governor Yi Gang brings Hope to China Virtual currency sector

During the process of approving President Jinping of China’s candidate to head the People’s Bank of China (PBoC), the states National Peoples’ Congress had an election to this effect on March 19.

The appointment was not a shocker due to the fact that previously Mr. Gang had held a high post of Deputy Governor of the People’s Bank of China already. It is believed that this Beijing native public servant with immediate effect as taken up this position.

In addition to the above, Yi Gang will continue from where his predecessor left off, who resigned from his post and was widely known for using a liberal approach during his appointment of the first Governor of the People’s Bank of China (PBoc).

In a statement made in 2013, Yi Gang has talked about bitcoin in a positive light and even going to the great extent of calling it “inspiring” or “enlightening”. He seemed to be delighted for Chinese civilians to be involved in selling and buying of bitcoin via the internet, demonstrating that it is an exceptional separate operation from trading currency. Yi has also elaborated positively about blockchain technology also during his speech in the G20 summit in 2016.

Latest Developments in the New age: China sees a new Horizon

According to a youtuber’s opinion of the appointment, it looks like the introduction of the new governor Yi Gang is more virtual currency oriented to the state than his predecessor.

Yi is certain to be more careful about how he expresses himself from now on, as the governor of the world’s biggest central bank in relation to asset holdings. Most unlikely is a ringing acknowledgment of virtual currency. Even a relaxed method that permits bitcoiners to engage in trade without government state intervention would proclaim positive news for China and for the other international players located in the wider virtual currency ecosystem.


Time limit is exhausted. Please reload CAPTCHA.