The People's Bank of China Will Crack Down on "Capital Chain" of Cross-border Gambling

Abstract : It was necessary to attach great importance to the construction of technical and defense capabilities.

ChainDD
ChainDD

Apr 23

On April 23, the People's Bank of China (PBOC) held a meeting to crack down on the "capital chain" of cross-border gambling. Yifei Fan, the deputy governor of the PBOC, pointed out that it was necessary to attach great importance to the construction of technical and defense capabilities.

Fintech such as big data, cloud computing and machine learning should be actively applied to strengthen the identification of customer identity and monitoring and disposal on suspicious transactions.

He stressed that it should focus on key and difficult issues. In view of key issues such as "running sub-platform" and gambling on e-commerce platforms, as well as new methods and issues such as using virtual currency and blockchain technology to avoid traceability, risk prevention and disposal should be strengthened accordingly.

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