Li Bo, Deputy Governor of the People’s Bank of China: Studying the regulatory rules for Bitcoin and stablecoins

  Xinhua News Agency, Hainan, Boao, April 18 (Reporters Wang Cunfu and Zhang Huihui) Li Bo, deputy governor of the People's Bank of China, said at the Boao Forum for Asia on the evening of the 18th that the People's Bank of China is studying the regulatory rules for Bitcoin and stablecoins.

In the future, if any stable currency wants to become a widely used payment tool, it must accept the same strict supervision of financial institutions such as banks or quasi-banks.

  In his video speech at the “Digital Payment and Digital Currency” sub-forum of the Boao Forum for Asia, Li Bo said that it is necessary to ensure that speculation in cryptocurrency assets does not cause serious financial risks. Cryptocurrency assets are an investment option and are not currencies themselves. It is an alternative investment. If cryptocurrency assets play a role, they will be used as an investment tool or alternative investment.

If it is used as an investment tool, many countries, including China, are studying their regulatory environment.

  Li Bo said that there is no timetable for the launch of the digital renminbi nationwide.

In addition, the internationalization of the renminbi is a natural process. The goal of renminbi internationalization is not to replace the U.S. dollar or other currencies. The goal is to let the market make choices.