RATE Group | China to expand blockchain pilot, study FX reforms for cryptocurrency: Regulator
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China to expand blockchain pilot, study FX reforms for cryptocurrency: Regulator

25 Dec China to expand blockchain pilot, study FX reforms for cryptocurrency: Regulator

Posted at 15:38h in Cryptocurrency News by

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SHANGHAI: China will expand the scope of its blockchain cross-border financing pilot platform, a senior official at the country’s foreign exchange regulator said on Tuesday (Dec 24).

Lu Lei, deputy head of the State Administration of Foreign Exchange (SAFE) make his remarks at a forum in Beijing, where he said the regulator will strengthen the integration of fintech and the foreign exchange market, while maintaining a grip on supervising technology development.

“We will gradually expand the scope of the pilot and the application scenarios of blockchain technology in cross-border financing and macro prudential management,” Lu said.

“At the same time, (the government) will push forward a prospective study on foreign exchange reforms to deal with cryptocurrency and explore the construction of the foreign exchange regulation and technology system under the new situation.”

Lu added that the SAFE’s cross-border financing blockchain…

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