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Central Bank of China criticizes cryptocurrencies again By Derek Black On Sep 24, 2021 Share Get real time updates directly on you device, subscribe now. Subscribe The rapid development of cryptocurrencies and stablecoins threatens the traditional financial system, which is why the People’s Bank of China (PBOC) maintains a negative attitude towards the digital asset class. This was stated by the director of the department of payments and settlements of the regulator Wen Xinxiang, according to The Shanghai Securities Journal. According to him, virtual currencies can be divided into two categories: assets that are “repositories of excess liquidity”, such as...
