The People's Bank of China and seven other departments: Virtual currencies such as Bitcoin, Ethereum, and Tether do not have legal tender status.

Odaily Planet Daily News: The People’s Bank of China and seven other departments issued a notice on further preventing and addressing risks related to virtual currencies and other related activities (Yinfa [2026] No. 42). The notice clarifies the essential nature of virtual currencies, tokenization of real-world assets, and related business activities. Virtual currencies do not have the same legal status as fiat money. Virtual currencies such as Bitcoin, Ethereum, and Tether have main characteristics including being issued outside of monetary authorities, utilizing encryption technology and distributed ledgers or similar technologies, and existing in digital form. They do not have legal tender status and should not and cannot be used as currency for circulation in the market.

BTC2,79%
ETH5,07%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)