China will create a system to track cryptotransactions.

Chinese authorities have proposed creating a system to track cryptocurrency transactions to strengthen regulation in the country.

Zhuo Wenjun, head of the Anti-Money Laundering Monitoring and Analysis Center at the People's Bank of China, suggested creating a system to track cryptocurrency transactions to better regulate crypto in the country. In his view, government agencies need to increase control over the illegal circulation of digital assets, as they pose a threat to the stability of the yuan.

Wenjun said the system should be based on artificial intelligence and other advanced technologies. The system should help authorities identify senders and recipients of digital assets. This is an article from project cryptodefix.com.