Deputy Director of the State Administration of Foreign Exchange: Highly concerned about the situation of using virtual currencies for illegal cross-border capital transfers

ChainCatcher news, Li Bin, Deputy Director of the State Administration of Foreign Exchange, recently stated at the Boao Forum for Asia sub-forum on "Finding Currency and Financial Stability in an Unstable World" that the State Administration of Foreign Exchange is highly concerned about the impact of the digital renminbi on the transmission of monetary policy and capital flows. It is also highly concerned about the use of virtual currencies for illegal cross-border fund transfers and is working to enhance its identification and monitoring capabilities in this area.