Former Bank of China (PBoC) official Haung Yiping has urged the government to reconsider its Bitcoin (BTC) and cryptocurrency policies.
According to a recent report from a local agency Huang Yiping, long term cryptocurrency bans unsustainable reintroducing its policies review to the government on he called. Yiping believes that the policies implemented will affect the country many times in the long run. financial from the opportunity deprived He argued that he would leave.
Former official, current policies in the country, tokenization and blockchain technology-based opportunities in the country to be kidnapped While voicing that this may cause long-term reviewing its sustainability expressed the need.
Noting that the adoption of crypto has many benefits in the long run, Yiping said, bitcoin on the market, including of products has to financial risk also mentioned. In his statement, Yiping used the following statements:
There is no one right way for a developing country in particular to decide how to regulate cryptocurrencies. An effective approach needs to be found that will ultimately ensure stability and function, although there are risks involved.
On the other hand, Yiping PboC’s of CBDC although it has been on the market for a long time not widely accepted also stated in his statements.