• Latest
China Must Take Precautions Against Libra Trend

China Must Take Precautions Against Libra Trend

July 10, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Litecoin

China Must Take Precautions Against Libra Trend

coinnewsdaily by coinnewsdaily
July 10, 2019
in Litecoin
0
China Must Take Precautions Against Libra Trend
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022

The former governor of the People’s Bank of China (PBoC) says “China should take precautions” against the trend represented by Facebook’s Libra cryptocurrency.

Twitter-based Chinese crypto news source CnLedger reported on Xiaochuan Zhou’s remarks on July 9.

Zhou notably served as PBoC governor between 2013 and 2018, a period which saw Beijing pursue its notorious onslaught of anti-crypto regulations — including the historic blanket criminalization of initial coin offerings (ICOs) and exchange crackdown.

CnLedger reports that Zhou characterized Libra as representative of the global trend in cryptocurrencies — singling out its stablecoin-like properties and ambitions to tackle the pain point of cross-border remittances in emerging economies. 

Equally representative, per Zhou, is the fact that the token will still face challenges such as anti-money-laundering compliance and fund custody. 

Contextualizing this trend more broadly, Zhou reportedly claimed that “people valuing Libra is inseparable from the global dollarization trend,” and that the imperative for China is to maintain a strong monetary status, take precautions and pursue rigorous policy research.

The former governor further predicted, in CnLedger’s summary, that:

“In future there may emerge a more internationalized, globalized currency, a currency so strong that will cause major currencies to establish exchange relations with it. It may not necessarily be Libra, but there will be more institutions and people try creating it.”

As previously reported, Beijing’s perception that the cornerstone principles of the crypto revolution — disintermediation and the frictionless circulation of value — will undercut its strict capital controls and economic strategy has translated into a series of attempts to insulate both its domestic financial system and individual investors from the global crypto space.

The current deputy PBoC governor, Pan Gongsheng, recently characterized Security Token Offerings (STOs) as an “illegal” financing activity similar to ICOs, claiming that both remain rampant in mainland China — notwithstanding the authorities’ ever-more-adversarial stance.

The United States Congress has meanwhile demanded hearings on Facebook’s forthcoming Libra, and requested that Facebook and its partners impose an official moratorium on Libra development until its concerns are examined and addressed.



Credit: Source link

Tags: Litecoin
Share76Tweet47
Previous Post

Coinbase Is in Talks to Launch Its Own Insurance Company

Next Post

Blockchain Firm Diginex May Soon List on Nasdaq in the US: Report

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |
Bitcoin

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing
Bitcoin

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022
Bull or bear market, creators are diving headfirst into crypto
Alt Coin

Bull or bear market, creators are diving headfirst into crypto

April 2, 2022
crypto listing and delisting announcements: week 9
Alt Coin

Crypto Listing and Delisting Announcements: Week 9

February 28, 2022
unstable markets how to invest in cryptocurrency
Alt Coin

How to invest in cryptocurrency when the market is uncertain, explained

December 21, 2021
be your own banker secrets
Alt Coin

Bitcoin and Crypto Wallet Hygiene 101

November 22, 2021
Load More
Next Post
Nasdaq’s Quandl Institutional Data Platform to Add Crypto Reference Prices

Blockchain Firm Diginex May Soon List on Nasdaq in the US: Report

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$21,021.000.45%
  • ethereumEthereum(ETH)$1,187.37-0.84%
  • tetherTether(USDT)$1.00-0.11%
  • binancecoinBNB(BNB)$231.99-1.28%
  • rippleXRP(XRP)$0.357198-1.30%
  • cardanoCardano(ADA)$0.482296-2.09%
  • SolanaSolana(SOL)$40.07-0.16%
  • polkadotPolkadot(DOT)$7.86-3.20%
  • dogecoinDogecoin(DOGE)$0.065781-0.51%
  • Shiba InuShiba Inu(SHIB)$0.0000114.65%
  • daiDai(DAI)$1.00-0.22%
  • tronTRON(TRX)$0.064045-2.13%
  • leo-tokenLEO Token(LEO)$5.911.38%
  • matic-networkPolygon(MATIC)$0.57-1.83%
  • litecoinLitecoin(LTC)$56.041.04%
  • FTXFTX(FTT)$27.223.55%
  • OKBOKB(OKB)$12.954.35%
  • chainlinkChainlink(LINK)$6.85-3.02%
  • CronosCronos(CRO)$0.1239580.20%
  • stellarStellar(XLM)$0.123740-2.06%
  • cosmosCosmos Hub(ATOM)$8.07-0.40%
  • algorandAlgorand(ALGO)$0.338805-3.62%
  • moneroMonero(XMR)$121.79-2.85%
  • bitcoin-cashBitcoin Cash(BCH)$113.28-2.62%
  • ethereum-classicEthereum Classic(ETC)$15.92-2.49%
  • vechainVeChain(VET)$0.024761-0.05%
  • Internet ComputerInternet Computer(ICP)$6.020.45%
  • theta-tokenTheta Network(THETA)$1.390.11%
  • ElrondElrond(EGLD)$60.58-3.03%
  • filecoinFilecoin(FIL)$5.91-1.32%
  • tezosTezos(XTZ)$1.47-0.86%
  • bitcoin-cash-svBitcoin SV(BSV)$62.64-1.92%
  • eosEOS(EOS)$0.98-1.89%
  • AaveAave(AAVE)$67.802.05%
  • makerMaker(MKR)$1,004.14-2.75%
  • paxos-standardPax Dollar(USDP)$1.00-0.36%
  • huobi-tokenHuobi(HT)$5.43-1.17%
  • zcashZcash(ZEC)$65.14-3.24%
  • iotaIOTA(MIOTA)$0.293562-3.27%
  • zilliqaZilliqa(ZIL)$0.0480936.43%
  • neoNEO(NEO)$9.36-1.67%
  • havvenSynthetix Network(SNX)$2.83-7.16%
  • wavesWaves(WAVES)$6.25-1.27%
  • basic-attention-tokenBasic Attention(BAT)$0.409117-5.54%
  • dashDash(DASH)$49.88-1.32%
  • PancakeSwapPancakeSwap(CAKE)$3.24-1.47%
  • KusamaKusama(KSM)$54.69-2.86%
  • nemNEM(XEM)$0.041549-1.23%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • CompoundCompound(COMP)$48.2011.14%
  • ethlendAave [OLD](LEND)$4.103.48%
  • qtumQtum(QTUM)$2.99-3.06%
  • bitcoin-goldBitcoin Gold(BTG)$17.22-1.38%
  • omisegoOMG Network(OMG)$1.95-1.57%
  • golemGolem(GLM)$0.244971-0.81%
  • SushiSushi(SUSHI)$1.21-5.33%
  • yearn-financeyearn.finance(YFI)$6,626.61-5.99%
  • ontologyOntology(ONT)$0.237975-2.58%
  • umaUMA(UMA)$2.717.44%
  • digibyteDigiByte(DGB)$0.010578-2.02%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....