While it is true that Zhang is a manager working in an unknown capacity at the PBoC, it was recently confirmed by the Wall Street Journal that he is not involved in determining the central bank’s stance on bitcoin policy. Backtracking from his previous stance, Zhang claimed earlier today to be an “observer” with no inside information about the PBoC’s looming policy changes.
What’s more, he appears to have underestimated how many people mistook his personal observations for official policy. “Definitely going to get told off on Monday,” Zhang said in his latest post.
Fear around China’s rumored policy change (based on an unconfirmed report) has helped to drive down bitcoin price over the last several weeks, dropping from around $600 in the wake of the Mt.Gox implosion to roughly $450 over the weekend. All three of China’s best-known exchanges — BTC China, Huobi and OKCoin — have yet to receive any official notice of changes from their banks, the PBoC or any other official authority.