(The Paper) The People’s Bank of China is targeting metaverse and non-fungible tokens in ramped-up measures to tame the crypto industry.
Gou Wenjun, PBOC director, highlights the risks of money laundering and tax evasion in NFTs and the metaverse ecosystem in the next move of the crypto crackdown.
Wenjun, who heads PBOC’s Anti-Money Laundering unit, says the metaverse and NFT innovations require greater oversight and governance.
The PBOC executive proposes a clarification of supervisory duties to enhance transparency in crypto assets.
Wenjun says China should strengthen surveillance of transactions in digital assets. He calls financial institutions to authenticate crypto senders and those they transact to flag suspicious activities.
The PBOC executive calls for the deployment of new technologies to track transactions, including machine learning and artificial intelligence. Wenjun is also open to the global cooperation to tackle digital asset-related crimes.
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