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-goldIf it becomes a reality then this news will be able to help the development of bitcoin in china country, we know that china is country with biggest population in world. Of course this could have a good impact on bitcoin in the world market. The increasing acceptance of bitcoin in a country will make the development in other countries improve.
They can now also maintain there own wealth in the digital world. Because when the day comes that all countries recognized cryptocurrency, most currency would now be in digital and you cant now really count anyone's networth once it is now in an outsource wallet. The net worth might be indicated but the hidden digital goods won't be counted or revealed. All countries has it's own convertion of money and it's up them now to adopt it in there own.