Central Bank of China Appoints Anti-Bitcoin Governor As Top Communist Party Official

July 4 (Cointime) - The Chinese Communist Party has reportedly chosen a Bitcoin skeptic to be the party secretary of the central bank, potentially making him the next governor. Pan Gongsheng, the current deputy governor of the People's Bank of China (PBOC), is in charge of the Leading Group of Internet Financial Risks Remediation, which is responsible for regulating financial technology companies and clamping down on cryptocurrency use in China.

Pan has previously spoken critically of Bitcoin and supported China's crackdown on Bitcoin trading. His appointment comes at a critical time for China's economy, which is facing challenges such as slowing growth, high debt levels, and an aging population.

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