Last Friday, Chinas official newspaper Peoples Daily released an article
Bitcoin, a New Form of Digital Gold by Yang Wang. And in an interview, Yang says that after talking with people from the central bank, he believes that the government will define btc as commodity or futures. It is in conflict with the RMB system. And when the PBOC released its own digital currency, most cryptocurrencies would be obsoleted and bitcoin or blockchain startups will move to mobile payment.
http://news.8btc.com/chinas-official-newspaper-peoples-daily-defines-bitcoin-as-digital-goldWhy the hell do journalists think that everyone is going to suddenly switch to whatever fiat currency is issued by a government body from something that is decentralized and far better at doing what it does than whatever they can come up with? It's starting to piss me off that they completely believe this.
Glad to see they're calling it digital gold, but it may be for the wrong reasons. Not worth paying attention to.
EDIT: Fixed my formatting. Lazy fingers.