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They were only two seemingly innocuous words: “investment alternatives.” But when applied to Bitcoin the seminal cryptocurrency by an official from the People’s Bank of China in a recent panel discussion, they reverberated like a firecracker.
“A remarkable step for BTC,” Lennix Lai, director of financial markets at OKEx, calls the statement. Michael Peshkam, executive in residence at European business school INSEAD, describes the central banker’s remarks as “a significant shift in the country’s position” on crypto.
To recap: On April 18 at a CNBC event at the Boao Forum for Asia, Li Bo, deputy governor of the PBoC China’s central bank said: “We regard Bitcoin and stablecoin as crypto assets. […] These are investment alternatives.” CNBC reporter Arjun Kharpal commented:
Chinese regulators hit Alibaba with a 18.23 billion yuan ($2.8 billion) fine in its anti-monopoly investigation of the tech giant, saying it abused its market dominance.
The probe’s main focus was a practice that forces merchants to choose one of two platforms, rather than being able to work with both.
The company said in a statement it accepted the penalty and will comply with the regulator’s determination.
Chinese regulators hit Alibaba with a 18.23 billion yuan ($2.8 billion) fine in its anti-monopoly investigation of the tech giant, saying it abused its market dominance.
Regulators opened a probe into the company’s monopolistic practices in December. The investigation’s main focus was a practice that forces merchants to choose one of two platforms, rather than being able to work with both.