The Shanghai Commission on state asset management held a closed meeting with the participation of local authorities on the issue of changing politics in relation to digital currencies and stabilcoins.

According to Reuters, citing the publication of the regulator in WeChat, at the meeting, the head of the commission Hee Jing (He Qing) pointed out the need to “pay attention to new technologies and strengthen research in the field of digital currencies.” He presented the meeting participants with a review of history, classification and international regulation of digital assets, and suggested recommendations for internal policy on virtual coins and stabilcoins.

The People’s Bank of China (NBK) still holds a tough position in relation to cryptocurrencies. According to the regulator, the growth of the popularity of stablecoins and digital assets creates significant problems for the financial control system in the country. Large Chinese companies have repeatedly called on the NBK to approve the release of stablecoins tied to Yuan. They plan to get licenses in Hong Kong, where from August 1 the law on the regulation of stablecoins comes into force.

Earlier, one of the leaders of e -commerce in China JD.com announced his intention to launch his own stablecoin for international payments, which will abandon the SWIFT international system.