-: FOLLOW US :- @theinsaneapp
Huang Yiping, a former advisor at Bank of China, calls for a reconsideration of China's ban on cryptocurrencies.
-: FOLLOW US :- @theinsaneapp
He believes the ban could lead to missed opportunities in the long term for the official financial system.
-: FOLLOW US :- @theinsaneapp
Huang argues for the development of a proper regulatory framework for crypto.
-: FOLLOW US :- @theinsaneapp
He acknowledges that there are risks associated with cryptocurrencies like Bitcoin.
-: FOLLOW US :- @theinsaneapp
Huang considers Bitcoin to be a digital asset rather than a currency due to its lack of intrinsic value.
-: FOLLOW US :- @theinsaneapp
China's central bank digital currency has not been widely adopted.
-: FOLLOW US :- @theinsaneapp
Huang suggests considering the pros and cons of allowing private institutions to issue digital yuan-based stablecoins.
-: FOLLOW US :- @theinsaneapp
The call for reconsideration came in a speech in December, with a transcript released in January.
-: FOLLOW US :- @theinsaneapp
Huang stated that the sustainability of the cryptocurrency ban deserves an in-depth analysis.
-: FOLLOW US :- @theinsaneapp
Huang's opinions were expressed during a speech in December and a transcript was released by Sina Finance in January.