February 6th, the People's Bank of China and eight other departments severely crack down on cryptocurrency, etc.
Xinhua News Agency, Beijing, February 6th - The People's Bank of China and eight departments jointly issued a notice, clarifying that virtual currency-related businesses are illegal financial activities, and are strictly prohibited within the country. Virtual currencies are not legally compensable and services such as exchange, trading, and information intermediation are prohibited. Foreign entities are not allowed to provide related services within the country.
The notice prohibits the tokenization of real-world assets (RWA) activities, except for approved financial infrastructure. Continuous rectification of virtual currency “mining” will take place, shutting down projects and strictly prohibiting any new ones.
Strengthen risk monitoring, crack down on fraud, money laundering, and other crimes. Company registration must not contain terms like “virtual currency” or “crypto assets.” In the next steps, efforts will continue to combat virtual currency speculation and maintain financial order. Where will cryptocurrency trading go in the future in China? #加密市场回调 $BNB
