The central bank issued the China financial stability report (2020), which interprets the central bank's digital currency, private sector stable currency and other financial technologies in the special topic of global financial technology development and regulatory progress. The report also said that the financial management departments will do a good job in overall planning and coordination, strengthen the top-level design and overall layout of supervision, and accelerate the improvement of the regulatory framework of financial technology in line with China's national conditions. First, on the basis of innovative regulatory tools, on the basis of summarizing the pilot experience of financial technology innovationafrica digital currency supervision, we should improve the risk monitoring system, timely issue white papers, and launch financial technology innovation supervision tools that are in line with China's national conditions and in line with international standards. Second, the core of regulation and prevention is to ensure the safety and regulation of regulatory arbitrage. The third is to build a digital regulatory reporting platform by means of digitization, and realize the formalization, digitization and routinization of regulatory rules by using artificial intelligence technology, accelerate the construction of digital regulatory capacity, and enhance the penetration and professionalism of supervision.
The exchange kucoin kucoin is a well-known cryptocurrency exchange in the world, which supports a variety of digital cryptocurrency transactions. Headquartered in Singapore, kucoin has offices in China, Thailand, the Philippines and Bulgaria, and currently supports more than 350 trading pairs. By integrating global high-quality assets and building a first-class platform, kucoin is committed to providing users with convenient, safe and comprehensive digital asset trading and conversion services. Since its establishment in September 2017,
Its founder Zhao Dong is the founder of d-fund, a well-known blockchain investment institution, and a shareholder of bitfinex exchange. Other members of the team are from well-known international Internet companies such as Alibaba, Tencent and today's headlines. Renrenbit team will give full play to its senior experience in the fields of market, technology, product and operation, and strive to build renrenbit into a more secure and better experience digital asset service platform. Renrenbitrrb renrenrenbitrrb plans to launch the loan marketization governance model in mid July, and the proposal is currently in the finafrica digital currencyal stage of testing. Renrenbit will introduce the mature market-oriented interest rate model in defi on the basis of 100% reserve openness and transparency, and at the same time, it will also use cefi's mature capital security risk control system to avoid the security risks faced by defi. Renrenbit will take the market-oriented governance as a breakthrough to improve the pledge lending ecology, build an interest rate pricing model based on the relationship between the supply and demand of funds in the lending market, take the interest rate marketization as the core, and let the pricing power of loan and investment interest rate be automatically adjusted by the market, so as to maximize the efficiency of capital utilization and reduce the risk of capital security. In the case of sufficient supply of funds, the borrower will obtain funds at extremely low interest rates. Renrenbit is committed to providing customers with valuable digital currency pledge lending services. It has reached strategic cooperation with financial institutions such as tether, DBL and genesis, and will continue to provide customers with diversified and low-cost lending services.
The HKMA said that it is working with the digital currency Institute to test the technology of cross-border payment using digital RMB and make corresponding technical preparations. Although there is no timetable for the launch of digital RMB, it is believed that it will provide an additional payment method option for residents of both places who need cross-border retail consumption in the future.
According to the edge markets, Datuk Syed Zaid Albar, chairman of the Malaysian Securities Commission (SC), announced in a telephone conference call on investing in Malaysia 2020 on July 7 that the Islamic Law Advisory Committee has decided to allow investment and trading of digital currencies on registered exchanges in principle. The advisory body responsiafrica digital currencyble for the supervision of Islamic law compliance in Malaysia is the advisory body. Since about 60% of Malaysia's population is Muslim, many people have previously been reluctant to trade cryptocurrencies for fear of not complying with Islamic law. This is equivalent to clarifying the position of the Islamic Sharia Advisory Committee on cryptocurrency transactions. So far, there are three digital asset exchanges registered through SC and allowed to operate in the country: luno, sinegy and tokenize.
Benjamin diokono, governor of the Central Bank of the Philippines, said the bank had set up a committee to study the feasibility and policy implications of issuing the central bank's digital currency. He said the team's findings must be reviewed before a decision can be made, and preliminary findings are expected to be released next month. However, he said he had not seen the development of digital currency affect the demand for fiat money. Cryptocurrency is not only an asset itself, but also depends on the blockchain technology supporting it.