The People's Bank of China announced that they were looking into digital substitutions for cash last week.
Not even 6 months ago journalists caught a hold of a document by the Chinese internet finance regulator instructing ISPs and local authorities to disincentivize bitcoin mining. The major concerns were the energy consumption and market speculation of Bitcoin miners in China.
Currently, there are some so-called ‘mining’ enterprises that produce ‘virtual currencies.’ They have consumed huge amounts of resources and stoked speculation of ‘virtual currencies,'
Interesting to see China now in favour of online currencies. Do you guys think we'll see cryptos take off and other countries following suit?
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