A vocal crypto skeptic was named the top Communist Party official at China’s central bank over the weekend, leading to more doubt over whether the nation's hard stance against crypto actually could be thawing as the sector heats up nearby.
China banned all crypto transactions in 2021, but recently Hong Kong has softened its view, leading some industry experts to speculate that China would follow suit. But despite Hong Kong’s recent moves in the digital assets space, Pan Gongsheng's appointment at the People's Bank of China signals that change is unlikely soon, Bloomberg reported.
