Bitcoin's Worst Nightmare? Crypto Skeptic To Lead China's Central Bank
Portfolio Pulse from Murtuza Merchant
Pan Gongsheng, a critic of cryptocurrencies, has been appointed as the leading official of the People's Bank of China (PBOC). Pan, who has a substantial background in the financial sector, has previously served as the deputy governor at China's central bank and led the team focused on mitigating Internet financial risks, including regulating cryptocurrency firms and curbing the use of cryptocurrencies in China.
July 03, 2023 | 6:38 pm
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NEGATIVE IMPACT
The appointment of Pan Gongsheng, a known critic of Bitcoin, as the leading official of the PBOC could potentially impact the price of Bitcoin.
Given Pan Gongsheng's known skepticism towards Bitcoin and his new role in China's central bank, it is likely that his appointment could lead to stricter regulations on cryptocurrencies in China, potentially negatively impacting the price of Bitcoin.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The appointment of Pan Gongsheng, a known critic of Ether, as the leading official of the PBOC could potentially impact the price of Ether.
Given Pan Gongsheng's known skepticism towards Ether and his new role in China's central bank, it is likely that his appointment could lead to stricter regulations on cryptocurrencies in China, potentially negatively impacting the price of Ether.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80