Central Bank of China (PBOC) made important statements regarding cryptocurrencies in the “China Financial Stability Report” published today. The report emphasized that although China banned cryptocurrencies, it continues to closely follow the developments in this field. It was stated that cryptocurrency prices around the world will experience a significant increase in 2023. While China is among the countries that continue to tighten regulations on cryptocurrencies, it was stated that 51 countries and jurisdictions globally have banned cryptocurrencies.
The Report Also Included the Price Increases of Cryptocurrencies in 2023
The report drew attention to the price increase in 2023. After the crises in 2022, many countries cryptocurrency marketIt started to make regulations to reduce the risks in its operations. ChineseWhile monitoring these developments closely, he stated that one of the factors that increased the interest in cryptocurrencies around the world was increasing regulations.
The rise in cryptocurrency prices attracted the attention of a large number of investors. According to the report, this process is spot on in the USA. Bitcoin 
$93,746.2 It accelerated further with the approval of its ETFs.
Increasing Regulations for Cryptocurrencies in the World
Regulatory developments in the USA and Europe were also discussed in the report. For many years, the USA spot Bitcoin ETF After rejecting its application, it decided to approve these funds in 2024. Remarkably in the report, SEC Chairman Gary Gensler‘s statements were also included.
Gensler noted that just because his agency approves these ETFs does not mean they are correct. European Union‘s MiCA regulations and EnglandThe new rules in were also detailed in the report. Hong KongIt was stated that progress has been made in the licensing processes in , and that a double license system has been implemented for virtual assets.
Although China banned all activities related to cryptocurrencies in 2021, it still stands out as the second largest mining country in the world. The USA ranks first in this field.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
