China became interested in using bitcoins when withdrawing capital abroad

China financial regulators study the possible use of bitcoins in the outflow of capital outflow from the country. It is reported by Coindesk with reference to the Chinese edition of Tencent Finance.

State currency management (STETENSISTRATION OF FOREIN Exchange, SAFE) of the PRC is trying to understand whether investments in cryptocurrency can be used to withdraw currency abroad bypassing the state.

Officials of the People’s Bank of China (NBK, Chinese Central Bank) met with representatives of the largest cryptocurrency exchanges and urged them to observe “laws and rules”.

As stated in the NBK release , the translation of which is quoted by Coindesk, the regulator to the meeting stated that Bitcoin is not a currency, and those who invest in it should understand what risks such investments bear.

One of the largest cryptocurrency exchanges, BTCC, confirmed that its representatives participated in a meeting with the NBK.

The Bitcoin exchange rate in relation to the dollar on January 5 fell by more than 20% after it updated the historical maximum: January 4, one bitcoin cost $ 1141.05. As noted by Bloomberg, the fall of the Bitcoin course is associated with the strengthening of the Chinese yuan.

In early January, the cost of bitcoin for the first time since 2013 rose above a thousand dollars. On the morning of January 7, one bitcoin cost $ 840.