TechFlow News, February 6: The People’s Bank of China and seven other departments jointly issued the “Notice on Further Preventing and Addressing Risks Related to Virtual Currencies” (Yinfa [2026] No. 42). The notice clarifies the essential nature of virtual currencies, tokenization of real-world assets, and related business activities, emphasizing that virtual currencies do not hold a legal status equivalent to that of fiat currency. Virtual currencies such as Bitcoin, Ethereum, and Tether possess key characteristics including issuance by non-monetary authorities, use of cryptographic techniques and distributed ledger or similar technologies, and existence in digital form; they lack legal tender status and must not—and cannot—circulate or be used as currency in the market. (Jin10)
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