The People's Bank of China issues a notice on preventing virtual currency risks

ZkProver · 2026-02-06T13:00:58+00:00

The People's Bank of China and seven other departments issued a notice clarifying that virtual currencies do not have the status of legal tender, prohibiting virtual currency trading and tokenization activities within the country, and requiring financial institutions not to provide services, while strengthening regulation and cracking down on illegal activities. The notice takes effect from the date of issuance and revokes the relevant regulations from 2021.

ZkProver

2026-02-06 13:00:58

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ChainCatcher Message, the People’s Bank of China and eight other departments issued a notice on further preventing and addressing risks related to virtual currencies and other activities (Yinfa [2026] No. 42), clarifying that virtual currencies do not have the status of legal tender, and related business activities are considered illegal financial activities.

The notice prohibits virtual currency trading and real-world asset (RWA) tokenization activities within the country. Without approval from relevant authorities, domestic entities are not allowed to issue virtual currencies or conduct tokenization businesses abroad.

Financial institutions are not permitted to provide services for these activities, and internet companies are prohibited from providing online venues and promotional activities. The notice calls for enhanced risk monitoring and industry regulation, and a crackdown on related illegal activities. This notice takes effect from the date of issuance and repeals relevant regulations from 2021.

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