China proposes to create a state-owned trading platform
The political council under the Chinese government talked about the crypto-currency trade.
Member of the People's Political Consultative Council of China (CPPCC), at the annual session of the leading legislative and advisory bodies of China, Wang Pengjie proposed the creation of a national crypto-exchange area.
In his view, the Chinese People's Bank (PBOC) and the China Securities Regulatory Commission (CSRC) should establish the trading platform. The platform should and is regulated by these institutions.
"Thus, we can provide an official channel for companies to raise funds and individual investors to increase the cost of capital," explained Wang Panjie, his proposal to create a state crypto-exchange. Cointelegraph.
The official suggests the idea of creating a national crypto-exchange area at a time when the Chinese authorities attacked the large-scale crypto-currency industry that already existed in China.
The latest initiative of the authorities concerns already banning Chinese users from using foreign sites for their activities.
Author: Evgenij Novožilov, Analyst Freedman Club Crypto News
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