Central Banks: Strengthening the Supervision of Financial Activities of Platform Companies to Suppress Bitcoin Mining and Transactions

On September 3, the Central Bank of China released the “China Financial Stability Report (2021)”. The report provides final compliance and strengthens the overall assessment and early warning of financial risks. We will do our best to deal with the existing risks and decide against the recurrence of many risks. Strengthen the monitoring of the financial activities of the business platform and disrupt bitcoin mining and trading. We will focus on monitoring oversight gaps, streamline improving financial management today, and strengthen oversight. Improve financial risk management procedures, play an essential role in the management of major financial risks and prevent legal attacks. Leverage the fulfillment of the role of deposit insurance, focus on rapid recovery, strengthen specialization and risk management activities focused on the financial insurance market. Carefully prevent the impact of external risks, strengthen forecast management, and plan response and retention plans. Improve the vision, holistic and effective approach to financial risk prevention and management and manage the recovery of financial risk prevention.