China studying blockchain application for forex, says regulator
Updated : October 27, 2019 06:23 PM IST
China is studying the application of blockchain and artificial intelligence in cross-border financing with a focus on risk management, and will further liberalise its capital markets, a senior foreign exchange regulator said on Sunday.
The comment by Lu Lei, a deputy head of the State Administration of Foreign Exchange (SAFE), comes as Facebook's plan for its Libra digital currency project stirs global interest in the sector.
China's parliament on Saturday passed a new law on cryptography, as the country gears up to launch its own digital currency.