进一步防范处置虚拟货币等相关风险

Core Viewpoint - The People's Bank of China and other regulatory bodies have issued a notice to further prevent and address risks associated with virtual currencies and Real World Assets (RWA), emphasizing the illegal nature of virtual currency activities within the country [1][2]. Regulatory Stance - The notice reiterates a long-standing prohibitive policy stance against virtual currency activities, stating that virtual currencies do not hold the same legal status as fiat currencies and that any related activities within the country are illegal [1][2]. - It is specified that no domestic or foreign entities are allowed to provide virtual currency-related services to domestic subjects without proper authorization [2][3]. Stablecoins Regulation - The notice clarifies that stablecoins pegged to fiat currencies are effectively performing some functions of legal tender, and any issuance of stablecoins linked to the Renminbi outside of China requires approval from relevant authorities [2]. - It highlights the cross-border risk transmission associated with virtual currencies, necessitating strict regulations on the issuance of virtual currencies by domestic entities abroad [2][3]. RWA Tokenization - The concept of RWA tokenization is defined as the conversion of ownership and income rights of assets into tokens using encryption and distributed ledger technology [2]. - Activities related to RWA tokenization within the country are prohibited unless authorized by regulatory bodies, as they may involve illegal fundraising or securities issuance [2][3]. Cross-Border Business Regulations - Strict regulations are imposed on domestic entities engaging in RWA tokenization activities abroad, with oversight from various regulatory bodies to ensure compliance with existing laws [3][4]. - Any unauthorized business activities related to RWA tokenization are prohibited, and entities must seek approval before proceeding [3][4]. Financial Institutions Management - Financial institutions and intermediaries are required to manage their overseas operations in compliance with domestic regulations, including customer due diligence and anti-money laundering measures [4][5]. - Financial institutions are prohibited from providing services related to unauthorized RWA tokenization activities and must report any illegal activities to the relevant authorities [5][6]. Virtual Currency Mining Regulation - The notice emphasizes the ongoing crackdown on virtual currency mining activities, with local governments held accountable for identifying and shutting down existing mining projects [6]. - New mining projects are strictly prohibited, and companies involved in the production of mining equipment are not allowed to offer sales or services within the country [6].