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governor general China

‘Bitcoin not a legitimate method of payment’

BEIJING: China does not recognize Bitcoin and other digital currencies as legitimate forms of payment, the central bank governor, Zhou Xiaochuan, said on Friday. “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.” China has taken a string of steps in recent months to clamp down on the cryptocurrency market, including…