Newly Appointed PBOC Governor Once Called Bitcoin ‘Inspiring’, Praised Its Accessibility

Yi Gang, who was “unexpectedly” appointed to serve as new governor of the People’s Bank of China (PBOC) on March 19, could soften the institution’s stance towards cryptocurrencies, given his previously reported positive views on Bitcoin (BTC).

According to reports from Chinese media, Yi spoke about Bitcoin at the end of 2013, when he said that the major cryptocurrency cannot be legally recognized by the PBOC in the near future. At the same time, he recognized the transactional potential of Bitcoin, adding that, “ordinary people have the freedom to participate.”

In contrast with the negative stance of PBOC’s deputy governor Pan Gongsheng in December 2017, who argued that Bitcoin “will die”, Yi stated at the time that Bitcoin is “inspiring”, and that it will remain a subject of public attention in the long term…

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