While there is no official data available, bitcoin market operators say Chinese nationals are major participants in the market and hold an outsized share of the total number Air Max Ltd 3 of bitcoins in Air Max Motion For Sale
The People's Bank of China (PBOC) may have cause to be concerned about bitcoins, which are anonymous, untraceable, and can be carried on memory sticks or transmitted electronically, because they represent a potential hole in the country's closed capital account.
More cause of worry is the way these currencies have engendered a new wave of creative criminality focused on hacking online platforms and stealing bitcoins stored there, and their potential for use in money laundering, bribery and purchases of illicit products such as drugs and weapons.
"The policy won't affect the BTC exchange Nike Air Max 500
The central bank did allow that ordinary individuals were free to use bitcoin, so long as they take on the risk themselves.
the digital currency bitcoin, saying that while it does not yet pose a threat to China's financial system, it carries risks.
The central bank also said in a statement on its website that it would act to prevent money laundering risks from bitcoin, a prominent digital currency that is not backed by a government or central bank.
As such they have been heavily covered in domestic media, including a special broadcast on state run television earlier in 2013.
rate. It means the government acknowledged its existence, and didn't say it's illegal. Now the whole country has their eyes on bitcoin."
Bitcoins, and other computer generated virtual currencies like it, have seen their relative values rise to historic highs in recent months as speculators have piled into the currency.
However, analysts point out that, given the tiny value of the total bitcoins in circulation relative to other currencies, it is unlikely to have much impact on the wider economy.
BEIJING, Dec 5 (Reuters) China's central bank warned on Thursday that financial institutions should not trade Nike Air Max 95 Og Lime
"I don't think it's good or bad," said bitcoin vendor Du Zhiliang, who sells bitcoin "mining" computers online. Du owns over 2,000 bitcoins himself and has been a heavy speculator in the past.
China central bank warns banks against use of bitcoin
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