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China securities watchdog appoints former head of PBoC Digital Currency Institute: Report

Wed, 11 Dec 2019, 11:48 am UTC

The China Securities Regulatory Commission (CSRC) is reportedly setting up a new Technology Regulatory Bureau, CoinDesk reported citing local media outlet Caijing.

The securities regulator is also reportedly planning to bring on board Yao Qian to lead the new bureau.

Qian is the former head of the People’s Bank of China’s (PBoC) digital currency initiative. Before serving as the director of the PBoC Digital Currency Institute, he also held the position of deputy director of the central bank’s technology department.

Mu Changchun replaced Qian as the head of the digital currency research institute in September this year. Qian, on the other hand, joined the China Securities Depository and Clearing Corporation as general manager, according to South China Morning Post.

Qian’s appointment as the new head of the Technology Regulatory Bureau has been reportedly announced on the CSRC’s internal bulletin. His hiring is expected to have been driven by his contribution to the PBoC’s central bank digital currency (CBDC) project and “in-depth research on fintech, especially blockchain,” Caijing said.

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