Ex-PBoC Governor: China Must Take Precautions Against Libra Trend

The former governor of the People’s Bank of China (PBoC) says “China should take precautions” against the trend represented by Facebook’s Libra cryptocurrency.

Twitter-based Chinese crypto news source CnLedger reported on Xiaochuan Zhou’s remarks on July 9.

Zhou notably served as PBoC governor between 2013 and 2018, a period which saw Beijing pursue its notorious onslaught of anti-crypto regulations — including the historic blanket criminalization of initial coin offerings (ICOs) and exchange crackdown.

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