On February 9, as of the closing, Wande digital currency concept index rose 7.5%. 11 stocks including Xgd Inc(300130) (300130. SZ), Newcapec Electronics Co.Ltd(300248) (300248. SZ), Shenzhen Forms Syntron Information Co.Ltd(300468) (300468. SZ), Global Infotech Co.Ltd(300465) (300465. SZ), Shenzhen Forms Syntron Information Co.Ltd(300468) (300579. SZ), Lakala Payment Co.Ltd(300773) (300773. SZ) rose more than 10%. Leading gainers in digital currency concept stocks,
“On the one hand, the price limit of the digital currency sector benefited from the latest policy documents, which proposed to steadily promote the development of legal digital currency standards, which provided a shot in the arm for the market. On the other hand, since 2022, the development trend of digital currency has continued to improve.” Su Xiaorui, a senior analyst at Analysys, told surging news that during the Winter Olympics, the digital RMB played an important role in serving people from all countries. In the future, with the gradual transition of digital RMB from the pilot stage to the comprehensive popularization and application stage, the relevant institutions upstream and downstream of the digital currency industry chain can usher in good development opportunities, so as to drive their own business expansion and performance growth.
On February 8, the 14th five year development plan for financial standardization issued by the people’s Bank of China, the State Administration of market supervision, the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission pointed out that we should steadily promote the development of legal digital currency standards; Comprehensively consider the security and credibility infrastructure, issuance system and storage system, registration center, payment transaction communication module, terminal application, etc., and explore the establishment and improvement of legal digital currency infrastructure standards.
The plan points out that it is necessary to study and formulate the information security standards of legal digital currency to ensure the storability, unforgeability, non repeated transactions and non repudiation in the circulation process. Study and formulate legal digital currency business and application standards, and establish standardized processes for issuance, circulation and withdrawal. Research and formulate statutory digital monetary standard, help to improve the legal digital money technology security and advanced nature. Research and formulate the basic data element standard of legal digital currency to improve the standardization of data. Study and formulate technical standards for legal digital currency terminals, and promote the improvement of terminal acceptance environment. Research and formulate legal digital currency evaluation and detection standards, and standardize the detection indicators of relevant systems and products.
The plan points out that it is necessary to study and formulate the information security standards of legal digital currency to ensure the storability, unforgeability, non repeated transactions and non repudiation in the circulation process. Study and formulate legal digital currency business and application standards, and establish standardized processes for issuance, circulation and withdrawal. Research and formulate statutory digital monetary standard, help to improve the legal digital money technology security and advanced nature. Research and formulate the basic data element standard of legal digital currency to improve the standardization of data. Study and formulate technical standards for legal digital currency terminals, and promote the improvement of terminal acceptance environment. Research and formulate legal digital currency evaluation and detection standards, and standardize the detection indicators of relevant systems and products.
Overseas, according to Russia’s “businessman”, the Russian government and the central bank reached an agreement on the supervision of cryptocurrency. It is expected that by February 18, the above-mentioned institutions will draft a law in which encrypted assets will be regarded as currency rather than digital financial assets.
“Cryptocurrency assets can only be circulated in the legal field through the banking system or licensed intermediaries and have a complete holder identity. Cryptocurrency transactions of more than 600000 rubles (about US $8000) must be declared, and transactions of more than this amount outside the legal field will be regarded as a criminal offence.” The businessman also reported that illegal acceptance of cryptocurrency as a means of payment would be fined.
It is worth noting that on January 20, the Federal Reserve issued a digital currency white paper, which proposed that CBDC (central bank digital currency) would help speed up the electronic payment system when financial transactions around the world have been highly digitized.
On January 13, the Bank of England released the UK’s digital currency white paper “central bank digital currency: looking for solutions to problems”, which pointed out that CBDC will be a form of central bank electronic currency, which can be used for daily payment. In essence, it is a kind of “digital banknote”.
China Merchants Securities Co.Ltd(600999) said that the attitude of the world’s major central banks towards digital currency has been clear, and a global consensus to promote the innovation of central bank digital currency is forming. Central bank digital currency is expected to become another deterministic track after carbon neutralization.
“Digital RMB is expected to pass the Winter Olympics scenario test, accelerate the application under the cross-border payment scenario, and help further improve the ranking of RMB international payment.” The agency pointed out that China’s new payment ecosystem based on digital RMB is expected to accelerate the formation and derive more types of digital business models. The investment opportunities of cross-border payment, new mobile payment, digital RMB wallet and upgrading of banking system should be paid attention to continuously.
