The former governor of the Bank of China pointed out

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The former governor of the Bank of China pointed out that the cryptocurrency should not be accelerated in cross-border payments.








Mr. Zhou Xiaochuan, former Governor of the Central Bank of China It was revealed at the Bo Ao forum today that China should not accelerate the use of digital yuan for cross-border payments. Because there are still regulatory restrictions And foreign xo slot concerns about the impact of the yuan's currency on the world market.
China is one of the countries that has accelerated the adoption of central bank digital currencies. With the aim of transforming the financial system to be modern It also reduces the risk of cryptocurrencies such as bitcoins and stimulates domestic and international spending.


Mr. Zhou said. While the primary purpose of the RMB is for transactions with local retailers. But it is likely that China will push for cross-border payments in the cryptocurrency yuan. Or funding terrorist groups Including being used for gambling, etc.

Mr. Zhou also said that Opening cross-border payments in RMB was not an easy task, and "we can't accelerate the process," he said. The digital currency of the yuan should be based on the global state of the yuan currency. Which is defined as the Chinese economy Currency stability And foreign exchange

Many countries are concerned that the digital currency may pose a risk to the global financial system. Mr. Zhou said. "In fact It may not be that severe. ”Since the Chinese yuan still has foreign exchange restrictions. Including the free use

Previously, the US had said that China is trying to replace the dollar by the yuan. As the world's international currency

Zhou's comments came after China Central Bank Deputy Governor Li Bo said at the Boao Forum For Asia (BFA) meeting on Monday. The Chinese central bank is in the process of studying the issue of Bitcoin requirements. And cryptocurrency stablecoin types

In addition, Mr. Li sent a signal that The People's Bank of China is making various arrangements. To enable athletes and international visitors to use the digital currency during the 2022 Winter Olympics to be held in Beijing. This could be the first time that the digital currency has been tried among foreign users.