The vice governor of People’s Bank of China(PBOC) recently reveals that PBOC has been discussing methods of managing virtual currency to strengthen risk prevention.

“In hope of providing a new and risk-free tool of payment, PBOC pays much attention to the development of virtual currency and has been studying measures of standardized transaction so as to benefit the people.” Su Ning said at a conference on the analysis of 2007 China’s economic situation.

At present there are several ways of online payment. People can pay online goods through bank card or virtual currency. Su Ning says: “There is possibility that people’s virtual currency will be taken away or used for investment by the website. In that case, people will suffer economic loss.

Su Ning says that with the development of economy, science and technology, virtual currency transaction is catching on in China. The People’s Bank of China will tighten control over virtual currency management and online payment.

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