South China Morning Post: China is exploring the establishment of a virtual asset trading venue

Reference News Network reported on December 14 that the Hong Kong "South China Morning Post" website recently reported that China is exploring the establishment of a virtual asset trading venue. At the same time, the Chinese government has made the next stage of layout for the digital RMB pilot. The report said that no details about the proposed digital asset trading venue were provided, but analysts believe that the exchange will not be used for cryptocurrency trading. China has always banned the circulation of various types of digital currencies and non-fungible tokens. According to a Hong Kong banker who requested anonymity, digital assets cover a wide range, from credit data to the tokenization of bonds or carbon quotas. Chen Bainan, chairman of the Hong Kong Securities Dealers Association, said that the latest announcement is likely to be related to the promotion of the use of digital RMB. This shows the country's determination to promote digital currency. Chen Bainan said that since the digital RMB is a project that requires a lot of regulatory discussions between the People's Bank of China and other government departments, it will be more convenient for banks in Beijing to develop such a platform. The first batch of such banks were allowed to go online in 2014, and judging from the central government's plan to promote the use of digital RMB, more such banks are likely to appear in the future.