Core Viewpoint - The People's Bank of China emphasizes the need to combat virtual currency trading and related speculative activities, highlighting the risks associated with various forms of virtual currencies and tokenization of real-world assets [1][2]. Group 1: Risk Warnings - Seven associations, including the China Internet Finance Association and the China Banking Association, jointly issued a risk warning regarding illegal activities related to virtual currencies, including false asset risks and speculative trading risks [1][2]. - The warning specifically includes risks associated with stablecoins and real-world asset tokens, which have gained popularity in 2025, with domestic companies participating in related activities in Hong Kong [2]. Group 2: Regulatory Actions - Financial management authorities in China have not approved any activities related to the tokenization of real-world assets, and engaging in such activities may lead to illegal financial operations [2][4]. - Institutions are prohibited from conducting any business related to virtual currencies and real-world asset tokens, and must not provide financial services or credit support to virtual currency mining projects [4]. Group 3: Public Awareness - The public is urged to remain vigilant against various forms of virtual currency and real-world asset token activities, as these are often associated with speculative trading and fraudulent schemes [4][5]. - Despite the prohibition of virtual currency trading, there are still reports of individuals attempting to recruit new users for virtual currency speculation through online platforms [4][5].