Chinese Research Body Admits that Banning Cryptocurrency is Difficult
The government newspaper of China, The People’s Daily, has today printed a feature that recognizes the profound impact cryptocurrencies could have, and concedes that they are challenging to ban entirely.
The feature, titled ‘The Ideal and Reality of Digital Currency,’ is written by a representative from the Chinese Academy of Social Sciences (CASS), and is educational in bent, exploring the potential uses of cryptocurrencies and the implications they have on existing monetary and financial systems.
“Both the traditional “private currency” and the new “private currency” similar to Bitcoin have affected the “monetary power” of the monetary authorities of various countries. However, from a technical point of view, it is difficult to achieve a complete ban on digital currency.”
「従来の "民間通貨" とビットコインのような新しい "民間通貨" は、どちらもさまざまな国の通貨当局の "金力" に影響を与えてきました。しかし、技術的な観点で見ると、デジタル通貨の完全な禁止を達成するのは困難です」