Regulations of Shanghai Municipality on Local Financial Supervision and Administration (Draft): Municipal local financial regulatory authorities shall promote the use of blockchain and other technologies in regulatory platforms

According to the First Financial News, the General Office of the Standing Committee of the Shanghai People ’s Congress announced that the 16th meeting of the Standing Committee of the 15th People ’s Congress of Shanghai has reviewed the “Regulations on Shanghai Local Financial Supervision and Administration (Draft)”, Extensive consultation. Among them, Article 6 (Regulatory Technology) states that the city's local financial regulatory authorities should promote the use of artificial intelligence, blockchain, cloud computing, big data and other technologies in regulatory platforms, collect regulatory information, conduct industry statistics and risks through the regulatory platform Monitoring and early warning, etc., and realize the interconnection and sharing of regulatory information with relevant departments.