The heads of the central bank and the China Securities Regulatory Commission: Maintain a prohibitive policy stance on virtual currency-related business activities within the country at all times

2026-02-06 13:16:21

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ChainCatcher reports that, according to Jinshi, 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 Disposing of Risks Related to Virtual Currencies and Other Activities.” They stated that regarding virtual currencies, the longstanding policy stance within the country has been to maintain a ban on related business activities.

In 2013, the People’s Bank of China and four other departments jointly issued the “Notice on Preventing Bitcoin Risks,” which clearly defined Bitcoin as a specific virtual commodity that cannot and should not be used as currency in the market. The “Notice on Further Preventing and Disposing of Risks Related to Virtual Currency Trading and Speculation,” issued in 2021, further clarified that Bitcoin, Ethereum, Tether, and other stablecoins do not have the same legal status as fiat currency. Conducting virtual currency-related business activities within the country is considered illegal financial activity and is strictly prohibited.

The “Notice” continues the policy stance of recent years, reaffirming that virtual currencies do not have the same legal status as fiat currency. Conducting virtual currency-related business activities within the country is considered illegal financial activity. Overseas entities and individuals are prohibited from providing virtual currency-related services to domestic entities in any form.

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