Li Bin, Deputy Director of the State Administration of Foreign Exchange: We are paying close attention to the illegal cross-border fund transfers using virtual currencies

PANews reported on March 28 that Li Bin, deputy director of the State Administration of Foreign Exchange, recently stated at the Boao Forum for Asia's sub-forum "Finding Monetary and Financial Stability in an Unstable World" that the State Administration of Foreign Exchange is highly concerned about the impact of digital RMB on monetary policy transmission and capital flows. It is also highly concerned about the use of virtual currency for illegal cross-border funds transfers and is improving its identification and monitoring capabilities in this regard.