The meeting for coordinating efforts to combat speculation in virtual money trading has been convened.

2025-11-29 06:35:10

Golden Finance reports that on November 28, 2025, the People's Bank of China held a coordination meeting to combat the speculation of virtual money trading. The meeting emphasized that virtual money does not have the same legal status as legal tender, does not have legal compensation, and should not and cannot be circulated as currency in the market. Activities related to virtual money are considered illegal financial activities. Stablecoins are a form of Virtual Money that currently cannot effectively meet customer identification, anti-money laundering, and other requirements, posing risks of being used for illegal activities such as money laundering, fundraising fraud, and illegal cross-border fund transfers. (People's Bank of China website)

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

4 Likes