The People's Bank of China, the nation's central bank, has a new governor, its first in 15 years. His name is Yi Gang and judging by previous comments the 60-year-old has made, he's perfectly okay with cryptocurrency. His positive stance towards bitcoin and other cryptos bodes well for their future within China.
Yi Gang's Appointment Offers Hope
On March 19, China's National People's Congress voted to approve President Jinping's nominee to oversee the People's Bank of China (PBoC). The appointment was not a surprise, for Yi Gang was already serving as deputy governor. The Beijing-born official is believed to have taken up his position with immediate effect. Zhou Xiaochuan, who stepped down from the role, was widely seen as a liberal governor, and it's likely that Yi will continue where his predecessor left off.