cryptohunter
Active member
- PPF Points
- 2,738
The Chinese government wants electronic money services to compete and come up with new ideas. They use rules and support for technology to make this happen.
Getting a license to be an electronic money service has rules, but they're set up to make it fair for new and existing players. The government talks with people in the industry to understand what's changing and solve problems, creating a space where new ideas can happen.
Projects like Digital Currency Electronic Payment show that the government is serious about using new tech in finance. By embracing new technology supporting open banking, and helping fintech grow, the Chinese government pushes for fair competition and encourages electronic money services to come up with better, safer, and easier financial services.
Getting a license to be an electronic money service has rules, but they're set up to make it fair for new and existing players. The government talks with people in the industry to understand what's changing and solve problems, creating a space where new ideas can happen.
Projects like Digital Currency Electronic Payment show that the government is serious about using new tech in finance. By embracing new technology supporting open banking, and helping fintech grow, the Chinese government pushes for fair competition and encourages electronic money services to come up with better, safer, and easier financial services.
