TechFlow News, February 6: Eight Chinese government departments, including the People’s Bank of China, jointly issued a notice on further preventing and addressing risks related to virtual currencies and other matters. The notice states that any entity or individual engaging in illegal financial activities involving virtual currencies or tokenization of real-world assets—contrary to the provisions of this notice—or providing services for such activities, shall be punished in accordance with relevant regulations; where such acts constitute a criminal offense, criminal liability shall be pursued in accordance with the law. Domestic entities and individuals who knowingly or should have known that overseas entities were illegally offering virtual currency or real-world asset tokenization services to the Chinese market, yet still provided assistance to those overseas entities, shall bear corresponding legal responsibility; where such acts constitute a criminal offense, criminal liability shall be pursued in accordance with the law.
Any investment in virtual currencies, tokenized real-world assets, or related financial products by any entity or individual that violates public order and good customs renders the relevant civil legal act null and void, and any resulting losses shall be borne solely by the investor. Where such investments are suspected of disrupting financial order or jeopardizing financial security, relevant authorities shall investigate and handle the matter in accordance with the law. (Jinshi)
