The chief accountant of the State Administration of Foreign Exchange: Libra and other currency must strictly abide by the foreign exchange regulations, otherwise it should be prohibited.

Sun Tianqi, chief accountant of the State Administration of Foreign Exchange, said today at the Bund Financial Summit that governments in emerging markets, especially those that implement capital controls, such as China, need to be aware of Libra's impact on such restrictions. For China, Libra and other digital currencies must strictly abide by foreign exchange regulations and must not replace RMB in domestic transactions, otherwise it should be prohibited. Sun Tianqi said that financial technology can promote the opening, innovation and development of a country's financial market. But it can also bring many illegal cross-border financial activities. This should be a matter of great concern to all countries, especially emerging markets. ”