SUNDAY, 24 MAR 2019

 

CONNECT

Facebook Linked In Twitter
GAP_Group_2018_728x90px
Invest Cyprus 30/04-30/03/2019
IMH LTD

Perdios: Sports Tourism Should be an Integral part of Cyprus’ Tourist Product

Cyprus and Portugal to Enhance Cooperation in Maritime Transport

IMH LTD
PwC_Twitter_21/03-28/03_468x60px

INTERNATIONAL

brought to you by CIPA

China: Bitcoin not a Legitimate Payment Method

China: Bitcoin not a Legitimate Payment Method

China does not recognize Bitcoin and other digital currencies as legitimate forms of payment, the central bank governor, Zhou Xiaochuan, has said.

“We do not currently recognize Bitcoin and other digital currencies as a tool like paper money, coins and credit cards for retail payments,” Zhou told reporters on the sidelines of the annual parliament session.

“The banking system does not accept it.”

According to Reuters, China has taken a string of steps in recent months to clamp down on the cryptocurrency market, including closing exchanges and banning so-called initial coin offerings (ICOs) - digital, token-based fundraising rounds.

Zhou’s remarks added to pressure on Bitcoin after the United States on Thursday said “potentially unlawful” online trading platforms for cryptocurrencies, may be giving investors an unearned sense of safety and should be registered with the regulator.

The price of Bitcoin BTC=BTSP had fallen more than 13 percent in the 24 hours to 1030 GMT on Friday.

Zhou said China paid close attention to the blockchain and distributed ledger technologies that Bitcoin is built on, but that some applications of the technology had grown too quickly.

“If they spread too rapidly, it may have a big negative impact on consumers. It could also have some unpredictable effects on financial stability and monetary policy transmission,” said Zhou.

MORE ON INTERNATIONAL

EY: Media and Entertainment Companies Must Focus on Older Generations

Media and entertainment companies must adopt a multigeneration strategy and challenge ...

Annual Growth in Labour Costs at 2.3% in Euro Area

Hourly labour costs rose by 2.3% in the euro area (EA19) and by 2.8% in the EU28 in the ...

A Third of EU Trade is with the United States and China

In 2018, the United States (€674 billion, or 17.1% of total extra-EU trade in goods, ...

FROM AROUND GOLDNEWS

   

Monaco International Luxury Property Expo 2019

The Monaco International Luxury Property Expo 2019, the world’s central B2C exhibition for upscale international real estate, will be held 15-16 May 2019 ...
   

PwC’s 4th Twitter Tax Cast to Provide Information on Cyprus’ Tax System

Business executives and the general public will have the opportunity to receive important information and also submit questions live on Twitter to PwC experts, ...
   

Fitch Upgrades Hellenic Bank to 'B+' and Affirms Bank of Cyprus at 'B-'

Fitch Ratings has upgraded Hellenic Bank Public Company Limited`s (HB) Long-Term Issuer Default Rating (IDR) to `B+` from `B` and Viability Rating (VR) to `b+` ...
   

Cyprus and Portugal to Enhance Cooperation in Maritime Transport

Cyprus and Portugal have underlined their wish to further enhance their cooperation in the sector of maritime transport during an official visit by Deputy ...
   

Perdios: Sports Tourism Should be an Integral part of Cyprus’ Tourist Product

Deputy Ministry for Tourism will work to render sports tourism an integral part of Cyprus’ tourist product, Deputy Minister Savvas Perdios has said on ...
   

British High Commission Continues to Support Innovation in Cyprus

Over recent months the British High Commission has supported a series of Innovation Workshops delivered by the Northern Ireland Cooperation Overseas (NICO) in ...
   

Infocredit Supports Boot-Camp Entrepreneurship-PEAK Up Your Success at EUC

Infocredit Group, committed in supporting innovation and youth entrepreneurship, was among the sponsors of the Boot-Camp Entrepreneurship-PEAK Up Your Success ...
   

Promoting Cyprus at the MIPIM International Property Exhibition in Cannes

Invest Cyprus (the Cyprus Investment Promotion Agency), accompanied by leading Cypriot companies active in the professional services and real estate ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

GRS_Recruitment_28/02-31/03_300x250px
Monaco_Expo_06/03-16/05_300x250px

IMH LTD