People’s Bank of China Proclaims Bitcoin is Not a Legitimate Payment Method

[kreslik.news]

The Governor of the People’s Bank of China, Zhou Xiaochua, has announced that the central bank does not accept Bitcoin or any other digital currencies as legitimate forms of payment.

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According to Reuters, China’s annual parliament session took place on Friday, where Zhou Xiaochua had a chance to address the current scope of cryptocurrencies in China with reporters. “We do not currently recognize Bitcoin and other digital currencies as a tool like paper money, coins and credit cards for retail payments,” adding that “The banking system does not accept ... (read more)