Former PBOC Governor: Cryptocurrency and Blockchain Technology Can Be Explored, Key Lies in Adapting to User Needs

Odaily News According to former People's Bank of China Governor Zhou Xiaochuan at the Boao Forum for Asia, cryptocurrency and blockchain technology can be explored, but the key lies in whether they adapt to user needs and practical scenarios. He pointed out that the quality of a payment system does not depend on a single technology or performance metric, but on overall adaptability.

Zhou Xiaochuan also emphasized the need for continuous strengthening of regulatory capabilities in anti-money laundering and anti-fraud. He noted that while digital currencies offer payment convenience, they are also used for illegal activities such as telecom fraud, where funds can be quickly split and transferred, increasing the difficulty of tracking. He also mentioned that stablecoins may, to some extent, bypass compliance reviews, and related risks need to be carefully assessed. (Caixin)