Former Chinese Finance Minister Lou Jiwei emphasized that China should closely examine developments in cryptocurrencies in his speech at the 2024 Tsinghua Wudaokou Chief Economists Forum in Beijing.

Lou drew attention to the potential risks of cryptocurrencies to financial stability, especially volatility and money laundering. He also touched on the change in US crypto policy with the US Securities and Exchange Commission (SEC) approving Bitcoin exchange-traded funds (ETFs).

Lou stated that cryptocurrencies have negative effects on global financial stability and that these risks should be carefully evaluated. He emphasized that Chinese policymakers should examine the risks and innovations of the digital economy.

How do you think China should shape its cryptocurrency policies? We look forward to your comments.