China's deputy head of the State Administration of Foreign Exchange (SAFE), Lu Lei during a forum in Beijing announced that they are ready to expand the Blockchain Pilot program to study foreign exchange regulations, reported Reuters. The plan is to integrate emerging fintech businesses with foreign exchanges to capture the evolving market.
China recently made its plan clear for accelerated adoption of blockchain technology, however, the crackdown on crypto service providers just weeks after the announcement confused the world on China's stance towards cryptocurrency. Right after the President's call for becoming the world leaders in blockchain technology, the state propaganda machinery bombarded the public with numerous articles praising blockchain technology.
sources>>https://www.cryptoknowmics.com/news/china-looking-to-incorporate-regulations-for-forex
