The State Administration of Foreign Exchange issues high-risk transaction reporting management measures for illegal cross-border financial activities involving virtual currencies.

The State Administration of Foreign Exchange recently issued reporting management measures for high-risk transactions such as illegal cross-border financial activities of virtual currencies, which will have a profound impact on the financial market.

importance

The implementation of this management measure will help prevent and combat illegal financial activities such as virtual currencies and ensure the stability and security of the financial market.

Measures for the Administration of Bank Foreign Exchange Risk Transaction Reports

The "Measures for the Management of Bank Foreign Exchange Risk Transaction Reports (Trial)" have been released and will come into effect from now on. This measure is a supporting document of the "Measures for the Management of Banks' Foreign Exchange Business Development (Trial)" and aims to strengthen banks' foreign exchange risk management.

Strengthen risk management

Through this management method, banks will pay more attention to foreign exchange risk management, thereby improving the risk response capabilities of financial institutions and ensuring the stable operation of the financial system.

• Strengthen supervision
• Increase risk awareness
• Prevent illegal activities

Overall, the introduction of this management measure will have a positive impact on the financial market and help maintain financial order and market stability.