Economist Urges China to Reconsider Total Bitcoin Ban

Former member of the monetary policy committee of the People’s Bank of China (PBOC) Huang Yiping urged the country’s authorities to take into account the long-term consequences of the cryptocurrency ban. This is reported South China Morning Post. Huang, now a professor of economics at Peking University’s National School of Development, says blockchain technology is “very valuable” to financial systems. “A ban on cryptocurrencies may be practical in the short term, but whether it will be sustainable in the long term deserves careful consideration,” he said. The expert emphasized the importance of developing a proper regulatory framework for cryptocurrencies. “There