Key Points:
The notice pointed out that the hidden risks of fraud, money laundering, pyramid schemes, and illegal fund-raising in digital collections cannot be ignored; it is required to strengthen cooperation and form a coordinated supervision mechanism of departmental linkage.
All relevant departments, cities, and counties should attach great importance to fostering a sense of responsibility and urgency in overseeing digital collections and researching and assessing existing risks combined with corresponding responsibility and local reality, and actively adopting regulatory measures to effectively purify the digital collection market environment and promote digital collections. The industry is developing in a healthy, compliant, and orderly manner.
The notice clearly stated that it is necessary to strengthen the linkage between departments so that each department can perform its tasks and responsibilities and closely coordinate and manage together to form a common regulatory force.
It is necessary to further strengthen the connectivity of administrative licensing management, data sharing, information transmission, and result notification, carry out monitoring of the entire process of the transaction chain and jointly standardize the market order in the field of digital collections.
In addition, it also emphasizes that multiple measures should be taken to prevent the regulatory risks of digital collections in an all-around way. All relevant departments and cities and counties should combine the actual situation of the province, adhere to the principle of “equal emphasis on development and regulation,” increase the supervision of the digital collection industry, guide market players to operate and legally and fully enjoy the dividends of the Hainan Free Trade Port.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
Coincu News
Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire
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