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- China to expand blockchain pilot, study FX reforms for cryptocurrency - regulator
China to expand blockchain pilot, study FX reforms for cryptocurrency - regulator
China will expand the scope of its blockchain cross-border financing pilot platform, a senior official at the country's foreign exchange regulator said.
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."
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