According to Yuri Gugnin, the Chinese authorities show interest in cryptocurrencies, but act with discretion in this matter.

The People’s Bank of the country is studying the possibility of legalizing digital money and holds consultations with experts on this issue.

Gugnin stressed that the Chinese government is going towards the legalization of the market. The authorities of the country understand that digital money can no longer be ignored.

Recall that in September 2017, China banned trading cryptocurrencies and conducting ICOs. Then the government started blocking online platforms and mobile applications for working with digital money. They try to get miners out of business.

Earlier it became known that the state agency, which is responsible for censorship in Chinese media, opened a vacancy of a cryptographer with experience in the field of blockchain. Its description is published on the website of the department.

Why this is important

The Chinese government is not against digital money, it understands that this is outside investments and a chance for companies to enter the international market. But since the Chinese economy is too large, they have to take a wait-and-see position.