Regulator: China to expand blockchain pilot, study FX reforms for cryptocurrency

Blockchain has attracted a lot of attention in the past few months after Chinese President Xi Jinping said China should accelerate the development of blockchain technology, a digital ledger that forms the backbone of many cryptocurrencies such as bitcoin. — Reuters

SHANGHAI: China will expand the scope of its blockchain cross-border financing pilot platform, a senior official at the country's foreign exchange regulator said on Dec 24.

Lu Lei, deputy head of the State Administration of Foreign Exchange (SAFE) make his remarks at a forum in Beijing, where he said the regulator will strengthen the integration of fintech and the foreign exchange market, while maintaining a grip on supervising technology development.