央行等八部门发文：虚拟货币相关业务，境内一律禁止

Core Viewpoint - The recent notification from eight Chinese regulatory bodies reiterates the strict prohibition of virtual currency-related activities within the country, classifying them as illegal financial activities [1][2]. Group 1: Regulatory Stance - The People's Bank of China and the China Securities Regulatory Commission have maintained a prohibitive policy towards virtual currencies for years, emphasizing that they do not hold the same legal status as fiat currencies [1][2]. - The notification continues the long-standing policy that virtual currencies, including Bitcoin and stablecoins, are illegal for use in financial activities within China [1][2]. Group 2: Risks and Compliance - Virtual currencies currently fail to meet requirements for customer identity verification and anti-money laundering, posing risks of being used for illegal activities such as money laundering and fundraising fraud [2]. - The notification emphasizes that any issuance of virtual currencies by domestic entities or their controlled foreign entities without regulatory approval is strictly prohibited [2]. Group 3: Stablecoins and Tokenization - The notification highlights that stablecoins pegged to fiat currencies can undermine monetary sovereignty and prohibits any issuance of stablecoins linked to the Chinese yuan without regulatory consent [3]. - Activities related to the tokenization of real-world assets and the provision of related intermediary services are banned unless approved by relevant authorities [3]. Group 4: Business Restrictions - Companies and individual businesses are prohibited from including terms related to virtual currencies or asset tokenization in their registered names and business scopes [3]. - The notification calls for ongoing crackdowns on virtual currency mining and illegal activities associated with virtual currencies and asset tokenization, including fraud and illegal fundraising [3].