Former vice-governor of China's central bank, Wu Xiaoling, has said digital currencies like bitcoin "could co-exist with fiat currencies".
China's bitcoin industry stepped out over the weekend with two large gala events for exchanges OKCoin and Huobi.
Chinese exchange Huobi introduces margin trading and interest-bearing accounts with its new internationally focused brands BitVC and Yubibao.
Excessive price speculation and investor risk may have caused central bank clampdown, say Chinese exchange CEOs.
Five Chinese exchanges will not attend this weekend's Global Bitcoin Summit in Beijing due to recent central bank actions.
China's bitcoin "ban" drastically affected the balance of power across its exchanges.
