Regulatory emergency: The People's Bank of China and seven other departments issued a notice on further preventing and resolving risks related to virtual currencies and other related activities (Yinfa(2026)42号)).
The notice clarifies the essential attributes of virtual currencies, asset tokenization in the real world, and related business activities. Virtual currencies do not have the same legal status as fiat currencies.
Virtual currencies such as Bitcoin, Ethereum, Tether, and others are characterized mainly by being issued outside the monetary authorities, using encryption technology and distributed ledger or similar technology, existing in digital form, and do not possess legal tender status. They should not and cannot be used as currency for circulation in the market.
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Regulatory emergency: The People's Bank of China and seven other departments issued a notice on further preventing and resolving risks related to virtual currencies and other related activities (Yinfa(2026)42号)).
The notice clarifies the essential attributes of virtual currencies, asset tokenization in the real world, and related business activities. Virtual currencies do not have the same legal status as fiat currencies.
Virtual currencies such as Bitcoin, Ethereum, Tether, and others are characterized mainly by being issued outside the monetary authorities, using encryption technology and distributed ledger or similar technology, existing in digital form, and do not possess legal tender status. They should not and cannot be used as currency for circulation in the market.