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.
No doubt that it will be having a very much positive impact on the bitcoin. we also know that the Chinese people are the most interested one in using the bitcoin so, keeping the pressure of public in mind the Chinese government will act accordingly. I am hopeful that the Chinese government will soon accept it for knowing the fact that the bitcoin can have a great impact on the Chinese economy as well.