Central Bank: Strengthen supervision of platform companies' financial activities to crack down on Bitcoin mining and trading

On September 3, the central bank released the "China Financial Stability Report (2021)". The report proposed to adhere to the bottom line thinking and strengthen the all-round scanning and early warning of financial risks.

We will do our best to resolve existing risks and resolutely curb the rebound of various risks. We will strengthen the supervision of platform companies' financial activities and crack down on Bitcoin mining and trading. We will speed up the improvement of the modern financial supervision system and strengthen supervision coordination.

Improve the accountability mechanism for financial risks, strictly hold those responsible for major financial risks accountable, and effectively prevent moral risks. Effectively play the role of the deposit insurance system, focus on early correction, and further improve the professional and market-oriented risk management mechanism of deposit insurance. Closely guard against external risk shocks, strengthen expectation management, and make good response plans and policy reserves. Improve the foresight, overallness, and initiative of financial risk prevention and control, and maintain the bottom line of no systemic financial risks.