In this week’s WeiyangX Fintech Review reported by Crowdfund Insider they cover the rumors that the CBRC suspended online lending by private banks; private banks were only permitted to be in operation for the last 3 years and this news is reported to be done because of concerns over stability at the banks; a charity crowdfunding platform, Fenbeichou, was accused of fraud; the PBOC released new rules for mobile payment security including all QR code providers now need a permit. Source.
