Chen Weigang, former Vice President of China Insurance Regulatory Commission of the Communist Party, sat down with Yiben blockchain media on Feb 27 to talk about ICO regulations and digital currency trading in China. He told the media that a central bank digital currency (CBDC) is an important strategic plan for the Chinese to gain an upper hand in international economic development.
During the interview, Chen was asked to comment on the ongoing ICO Ponzi schemes in China. Chen believed that ICOs and cryptocurrency trading needed to be banned completely in the future. He added that:
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Source: Cryptocurrency - investing.com
