深夜发文！央行等八部门 升级虚拟货币监管政策！

Core Viewpoint - The People's Bank of China and seven other regulatory bodies have issued a notification reinforcing the prohibition of virtual currency-related activities, emphasizing the risks associated with virtual currencies and stablecoins linked to fiat currencies [1][2]. Summary by Sections Regulatory Framework - Virtual currency-related activities are classified as illegal financial activities, and foreign entities are prohibited from providing such services to domestic subjects [2]. - The notification explicitly states that no entity or individual may issue stablecoins pegged to the Renminbi abroad without regulatory approval [2][5]. - Activities related to the tokenization of real-world assets (RWA) are also deemed illegal unless conducted under specific regulatory approvals [2][6]. Enforcement Measures - Internet companies are barred from providing services related to virtual currencies and RWA tokenization, including marketing and payment facilitation [2][5]. - Businesses and individual entrepreneurs are prohibited from using terms like "virtual currency," "stablecoin," and "RWA" in their registered names and business scopes [2][5]. - The notification mandates a crackdown on virtual currency mining activities, requiring the closure of existing mining projects and a ban on new ones [2][6]. Risk Monitoring and Accountability - The notification emphasizes the need for enhanced risk monitoring and the sharing of data across departments to combat illegal activities related to virtual currencies and RWA tokenization [7]. - Individuals and entities that knowingly assist foreign parties in providing illegal services related to virtual currencies will face legal consequences, including criminal charges if applicable [3][7]. Historical Context and International Perspective - The notification builds on previous regulations from 2021, reiterating the long-standing prohibition of virtual currency activities in China [4][8]. - Despite the growth of virtual currencies and stablecoins internationally, regulatory bodies remain cautious about their risks, as highlighted by the Bank for International Settlements [9].