Yang Dong of the National People's Congress: We should strengthen international regulatory cooperation and jointly combat transnational crimes involving virtual currencies

According to China News Network, Yang Dong, director of the Financial Technology and Internet Security Research Center of Renmin University of China, believes that regulators should have a deep understanding of the characteristics of cross-border and cross-field flows of virtual currencies, strengthen international regulatory cooperation, strengthen information exchange and sharing, and jointly combat transnational virtual currency crimes.

It is reported that as the regulatory "ban" is upgraded, some Bitcoin trading platforms originally based in the country continue to provide over-the-counter transactions between Bitcoin and RMB overseas in the form of "listing and delisting, point-to-point". In order to allow funds to "go overseas" smoothly, some platforms may also be suspected of fictitious fund names. This method is not regulated and cannot guarantee the safety of funds.