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.
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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.