The State Administration of Foreign Exchange issued reporting management measures for high-risk transactions such as illegal cross-border financial activities of virtual currencies.

PANews reported on December 27 that according to an announcement by the State Administration of Foreign Exchange, the "Measures for the Management of Bank Foreign Exchange Risk Transaction Reports (Trial)" have been released and will come into effect from now on. The "Measures" are supporting documents of the "Measures for the Management of Banks' Foreign Exchange Business Development (Trial)" and are intended to strengthen banks' foreign exchange risk management and conduct early identification and early detection of high-risk transactions such as suspected false trade, underground banks, and illegal cross-border financial activities involving virtual currencies. Early warning and early treatment.

The main contents include: clarifying the reporting responsibilities of banks on foreign exchange risk transactions, requiring the establishment of a monitoring system and submission of reports; stipulating the scope of information reporting, including activities suspected of illegal and illegal cross-border capital flows; clarifying the content of the report, such as the basic situation and planned measures ; Strengthen internal management measures, including internal control systems and data confidentiality management.