八部门：虚拟货币相关业务，境内一律禁止！

Core Viewpoint - The recent notice issued by eight Chinese regulatory bodies emphasizes that all virtual currency-related activities are illegal financial activities within China, aiming to curb speculation in virtual currencies and the tokenization of real-world assets (RWA) [1][2]. Group 1: Virtual Currency Regulations - Virtual currencies do not have the same legal status as fiat currencies and cannot be used for market circulation [2]. - All activities related to virtual currencies, including exchanges between fiat and virtual currencies, trading of virtual currencies, and issuance of tokens, are strictly prohibited [2][4]. - The notice highlights the cross-border risks associated with virtual currencies due to their reliance on blockchain technology [2]. Group 2: Stablecoin Regulations - The notice specifies that stablecoins pegged to fiat currencies are considered to perform some functions of legal tender and cannot be issued abroad without regulatory approval [3]. Group 3: RWA Tokenization - RWA tokenization is defined as converting ownership and income rights of assets into tokens using encryption and distributed ledger technology [4]. - Activities related to RWA tokenization, including providing intermediary and technical services, are deemed illegal financial activities unless approved by regulatory authorities [4][5]. Group 4: Mining Activities - The notice mandates strict control over virtual currency mining activities, including shutting down existing projects and prohibiting the establishment of new mining operations [6].