While speaking at the 2024 Tsinghua Wudaokou Chief Economists Forum in Beijing, former Chinese finance minister Lou Jiwei urged China to thoroughly examine the developments in cryptocurrency.
As reported by Sina Finance, Lou raised concerns about the potential risks associated with digital currencies, including their volatility and involvement in illegal activities such as money laundering.
He also drew attention to the changing stance of the United States towards cryptocurrencies, particularly with the recent approval of Bitcoin exchange-traded funds by the US Securities and Exchange Commission.
Lou cautioned against the damaging impact that fluctuations in crypto prices could have on global financial markets and stressed the long-standing threat that digital currencies pose to financial security.
He specifically pointed out the risks posed to areas such as anti-terrorism financing and Anti-Money Laundering measures.
