China s Nationwide Crackdown on Cryptocurrencies Fails to Block Cross-Border Money Laundering theepochtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theepochtimes.com Daily Mail and Mail on Sunday newspapers.
China: WeiyangX Fintech Review
National Internet Finance Association of China: Standardized Cosmetic Surgery-Related Financial Products and Services
The past few years have seen the rapid development of cosmetic surgery in China. In order to better serve their customers, some financial institutions have cooperated with third-party cosmetic surgery agencies to provide related financial services and products (e.g., cosmetic surgery installment plans). Yet, problems like excessive borrowing, lack of transparency, and high pricing have also brought damages to the interests of the consumers.
On June 9
th, the National Internet Finance Association of China (NIFA) released an initiative on cosmetic surgery-related financial products and services. NIFA suggested the financial institutions should not collaborate with illegal cosmetic surgery agencies or provide financial products and services to these agencies.
Cryptos mentioned on lists of risks to financial system to be avoided Share
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China has again signalled deep antipathy to cryptocurrency, this time calling for a crackdown on bitcoin mining.
Last Friday the State Council Financial Stability and Development Committee, a body charged with managing risk in China’s financial system, issued a statement detailing its most recent meeting and conclusions about the most pressing risks it needs to manage.
After first mentioning less-specific issues such as building early warning systems to detect financial risks, and reforming smaller financial institutions, the statement said it’s time to “crack down on Bitcoin mining and trading behaviour” as the cryptocurrency and other risks mentioned could introduce external risks, or inflation, or both.
Bitkoinas gavo dar vieną smūgį, šįkart – iš Kinijos lrytas.lt - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lrytas.lt Daily Mail and Mail on Sunday newspapers.