China's Foreign Exchange Bureau to Enhance Monitoring of Cryptocurrency Impact

According to Foresight News, Li Bin, Deputy Director of China's State Administration of Foreign Exchange, emphasized the importance of monitoring the impact of cryptocurrencies on capital flows. Speaking at the Boao Forum for Asia's sub-forum on 'Seeking Monetary and Financial Stability in an Unstable World,' Li highlighted the bureau's ongoing efforts to improve its capabilities in identifying and monitoring these effects. He noted that this is a crucial area of study and that further research will be conducted to enhance related initiatives.