China's Central Bank Visits US on Blockchain Research Trip

Representatives from the People's Bank of China are now visiting the US in an attempt to get up to speed on blockchain tech and regulation.

Aug 29, 2017 at 4:15 p.m. UTC
Updated Sep 13, 2021 at 6:52 a.m. UTC

Representatives from China's central bank and several research organizations visited San Francisco last week to find out more about blockchain technology and related financial regulation in the U.S.

The trip saw Yao Qian, director of the People's Bank of China's Digital Currency Research Institute, as well as delegates from fintech research bodies such as Shanghai New Financial Research Institute (SFI) and Peking University Digital Finance Research Center (IDF) meet with local startups from August 23 to 24.

According to a report by online media site Sohu, the visit was made as part of ongoing research led by the IDF and SFI, which is planned to be published in a report detailing the status of U.S. fintech development and regulation.

The delegates initially met with startups Prosper, a lending company; Sofi, an initiative targeting student loans; blockchain startup Circle; cryptocurrency exchange service Coinbase and DLT payments firm Ripple.

Additional conversations were reportedly centered around regulation.

According to Sohu, Qian stated in a discussion that "the issue of legal digital currency is of great significance" for China, and spoke about the necessity for traditional financial system stakeholders to set a strategy for blockchain technology.

Disclaimer: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.

Thank you for Bing Bin for her translation assistance.

Backpack image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
After Armstrong Tweet, India's Crypto Policy Body Says No Contempt of Court Challenge vs. RBI

The Coinbase CEO last month suggested the RBI's "shadow ban" of crypto exchanges violated a Supreme Court ruling.

The Coinbase CEO last month suggested the RBI's "shadow ban" of crypto exchanges violated a Supreme Court ruling.

CoinDesk - Unknown
2
CoinDesk - Unknown
Portuguese Congress Rejects Two Bills Seeking to Tax Crypto

The proposals were submitted by two leftist parties. The government, which also seeks to apply taxes, hasn’t submitted a proposal so far.

The proposals were submitted by two leftist parties. The government, which also seeks to apply taxes, hasn’t submitted a proposal so far.

CoinDesk - Unknown
3
CoinDesk - Unknown
First Mover Asia: Regulatory Attention on Terra Could Change South Korean Trading Environment; Bitcoin Goes Sideways

The founders of two prominent crypto-related organizations said tightened restrictions could make it difficult for foreign tokens to list on Korean exchanges, discouraging projects from trying.

The founders of two prominent crypto-related organizations said tightened restrictions could make it difficult for foreign tokens to list on Korean exchanges, discouraging projects from trying.

CoinDesk - Unknown
4
CoinDesk - Unknown
A16z Doubles Down on Crypto Investments Despite Market Downturn, and NFL Launches Play-to-Earn NFT Game

The most valuable crypto stories for Wednesday, May 25, 2022.

The most valuable crypto stories for Wednesday, May 25, 2022.

CoinDesk - Unknown