"With the establishment of connected regulations and the co-operation of the People's Bank of China (PBoC) and China Securities Regulatory Commission(CSRC), a managed and successful cryptocurrency trade software would offer as a formal way for organizations to improve funds (through ICOs) and

nvestors to hold their digital assets and achieve money appreciation" Excerpts of Wang Pengjie speech at the Two Sessions.Governments and main banks global have fought to grapple with the raising reputation of cryptocurrencies; but a very important ecosystem factor is certain, all have embraced blockchain.

Regardless of the cryptocurrency crackdown, blockchain has been increasing popularity and ownership in several levels. The Chinese government have now been supporting blockchain initiatives and adopting the technology. In fact, the People's Bank of China (PBoC) have been working on a digital currency and have done mock transactions with some of the country's

professional banks. It's however unconfirmed if the electronic currency will soon be decentralized and provide features of cryptocurrency like anonymity and immutability. It wouldn't come as a surprise if as it happens to be only a electronic Chinese Yuan considering that anonymity is the final point that China wants in their country. Nevertheless, developed as a close exchange of the Chinese Yuan, the electronic currency will be subjected to current monetary guidelines and laws.

"Plenty of cryptocurrencies have observed intense development which would bring significant bad effect on customers and retail investors. We don't like (cryptocurrency) products and services that utilize the huge chance for speculation that offers people the impression to getting wealthy overnight" Excerpts from Zhou Xiaochuan meeting on Friday, 9th March.