Peng Yang
Mu Changchun, director of the Digital Currency Research Institute of the People's Bank of China, said at the 5th Digital China Construction Summit on July 24 that the digital renminbi, as a legal digital currency issued by the People's Bank of China, will fully respect privacy and personal information protection, and will On this basis, take precautions against risks to prevent them from being used by criminals.
Mu Changchun emphasized that on the premise that physical cash is still issued, the public can still obtain the complete anonymity provided by physical cash, which will not be deprived by the issuance of digital renminbi; at the same time, controllability does not mean that Control and domination refers to the prevention and control of risks and the fight against crime, which are the objective needs of safeguarding public interests and financial security.
The controllable anonymity of digital renminbi will play a positive role in providing the public with better and more secure payment services.
"In order to ensure the effective implementation of the digital renminbi's controllable anonymity requirements, corresponding arrangements need to be made in the design of the top-level system." Mu Changchun suggested.
Specifically, Mu Changchun said that an information isolation mechanism should be established.
Clarify the independence of operating agencies to carry out digital renminbi operations, and regulate the use of digital renminbi customer information by establishing a digital renminbi customer information isolation mechanism and usage restrictions.
Digital RMB operating agencies need to establish and improve the internal control system for customer information protection and the monitoring mechanism for customer information protection. Only when illegal and criminal transactions such as money laundering, terrorist financing and tax evasion may be involved, can they apply for relevant customer information for risk analysis and monitoring in order to fulfill the "Three Antis" obligations.
In terms of law, Mu Changchun said that the legal conditions for digital wallet inquiry, freezing and deduction should be clarified.
Only authorized authorities authorized by law can inquire, freeze, and debit the user's digital RMB wallet based on legal reasons, otherwise the operating agency has the right to refuse.
In terms of punishment mechanism, Mu Changchun said that a corresponding punishment mechanism should be established.
Regulatory authorities can take punishment measures against operating institutions that illegally handle digital renminbi customer information in accordance with the law to strengthen supervision.
At the same time, Mu Changchun believes that laws and regulations such as digital renminbi anti-money laundering and anti-terrorist financing should be improved.
Combined with the relevant principles of the Financial Action Task Force (FATF) and the characteristics of digital renminbi, research and timely release of digital renminbi anti-money laundering and anti-terrorist financing and other regulatory provisions.
Talking about digital renminbi supervision, Mu Changchun said that digital renminbi supervision will strengthen the practice of regulatory technology application, actively use big data, artificial intelligence, cloud computing and other technologies to enrich financial supervision methods, and improve the identification of cross-industry and cross-market financial risks. Prevention and resolution capabilities.