Officials from the People's Bank of China and the China Securities Regulatory Commission answered questions from reporters regarding the "Notice on Further Preventing and Dealing with Risks Related to Virtual Currency and Other"

Regarding virtual currency, the domestic policy has always maintained a prohibition on related business activities of virtual currency. In 2013, the People's Bank of China and four other departments jointly issued the "Notice on Preventing Risks of Bitcoin," clarifying that Bitcoin is a specific virtual commodity and should not be used as currency in the market. The "Notice on Further Preventing and Dealing with Risks of Virtual Currency Trading Speculation" issued in 2021 further clarifies that Bitcoin, Ethereum, and stablecoins such as Tether do not have the same legal status as legal tender, conducting virtual currency-related business activities within the country is considered illegal financial activities and strictly prohibited. The notice continues the policy stance of recent years, reiterating that virtual currency does not have the same legal status as legal tender, conducting virtual currency-related business activities within the country is illegal financial activities, and foreign entities and individuals are not allowed to provide virtual currency-related services to domestic entities in any form.