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      PBOC Financial Education Notice Reiterates That Virtual Currency Has No Legal Tender Status

      PANews reported on September 22, citing the People's Bank of China's official WeChat account, that a financial education article released today once again reminded the public to recognize that virtual currency does not possess the essential attributes of legal tender status and mandatory acceptance, and is not a fiat currency or a currency in the true sense. The article stressed that some illegal institutions use concepts such as "virtual currency" and "blockchain" to engage in illegal fundraising, fraud, money laundering and other activities, and that regulators have repeatedly carried out rectification campaigns and cracked down on related illegal activities in accordance with the law. Regulators reminded individuals and enterprises to stay away from all kinds of illegal financial activities carried out in the name of virtual currency, be wary of high-yield temptations, and guard against capital losses and legal risks. The relevant wording follows the existing regulatory stance of the eight-department notice issued in February 2026.


      Source: PANews
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