China Is Set To Launch It's Own National Cryptocurrency

China Prepares National Cryptocurrency Launch

W. Pengjie supposed that the People’s Bank of China and the China Securities Regulatory Commission should be worked on “approval system”of assets placed on the block chain. Moreover,raised the opportunity of founding a digital asset trading platform at a national level. 
"With this system we will create an official channel for the companies wishing to raise funds and for the investors wishing to increase the capital" - has said Wang Pengjie. 
It should be noted that this proposal came after the restrictive measure with regard to the cryptocurrency market imposed by the Chinese power: 
banning ICO (September, 2017)the ban of activity of foreign cryptocurrency exchanges on the territory of the People’s Republic of China (February, 2018) According to the words of Pengjie, having your own cryptocurrency exchange will spur growth of capitalization of digital assets, including Ethereum (ETH), Bitcoin (BTC) and Litecoin (LTC). Other benefits of the new idea, according to the politician include the introduction of regulation of cryptocurrencies in South Korea and addition futures for Bitcoin a trade platformua of Nasdaq.
What will bring the new model? 
Pengjie points to the problems of the country , including to lack of adequate system of intellectual property rights. 
pressure point is also the ambiguity of legal status of cryptocurrencies in the
People’s Republic of China and low public awareness about this sphere. Such combination necessarily gives rise to fraud and, as a result, economic losses. 
The problem could be addressed through "the system of a statement" of assets.
Also the system of authorization of investors with their real names is also necessary. At last, the State should make every effort to educate the people in the area of a blockchain and the world of cryptocurrencies in general.