National People's Congress representative Fu Xiguo: Preventing virtual currency risks and clarifying the legal responsibilities for the creation and sale of digital tokens

ChainCatcher news, according to Shanghai Securities Journal, during this year's National Two Sessions, Fu Xiguo, a representative of the National People's Congress and president of the Shenyang branch of the People's Bank of China, plans to submit a proposal to amend the "People's Bank of China Law of the People's Republic of China."

Fu Xiguo believes that the responsibilities for managing the renminbi should be improved, and the legal definitions regarding the forms and production methods of the legal renminbi should be redefined, granting digital renminbi the same legal status as physical renminbi; based on the characteristics of digital renminbi, comprehensive and detailed regulations should be established regarding its issuance, circulation, and supervision to prevent virtual currency risks, and to clarify the legal responsibilities for the production and sale of digital tokens. (Source link)