Though details are currently scarce, Chinese regulators are reportedly looking into the use of bitcoin to avoid capital controls.
The report emerges in the wake of statements from China's central bank, which said today that it had met with domestic bitcoin exchanges this week, warning them about adhering to state regulations. It also comes as Chinese officials weigh instituting additional capital controls on top of existing constraints amid an outflow of funds from the country, as reported last month by the South China Morning Post.
BTCC, one of the exchanges that met with central bank officials, later released a statement confirming their communication with the People’s Bank of China.
The State Administration of Foreign Exchange did not immediately respond to an emailed request for comment.
CoinDesk will continue monitoring this developing story.
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