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CBIRC: Regulatory Agencies Should Keep Close Track Of Blockchain And Distributed Ledger
Summary: The China Banking and Insurance Regulatory Commission (CBIRC) recently released the Plan for International Regulations on Crypto Assets and Its Inspiration For Building An Effective Mechanism to Prevent the Risks of Internet Finance. In the paper, CBIRC stated that regulatory agencies should monitor and research the impact of Fintech, such as blockchain and distributed ledger, ...
The China Banking and Insurance Regulatory Commission (CBIRC) recently released the Plan for International Regulations on Crypto Assets and Its Inspiration For Building An Effective Mechanism to Prevent the Risks of Internet Finance.
In the paper, CBIRC stated that regulatory agencies should monitor and research the impact of Fintech, such as blockchain and distributed ledger, on banking modes, risk features and banking regulations, under the circumstances that finance is witnessing a drastic surge of the deployment of modern technologies. In addition, these organisations should prepare themselves to regulations, conducting more communications with Fintech enterprises, strengthening allocation of professional resources and constructing a sound working mechanism.
Tracy Chen
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Link: CBIRC: Regulatory Agencies Should Keep Close Track Of Blockchain And Distributed Ledger [Copy]
