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The People's Bank of China held a coordination meeting to combat virtual money trading speculation.
According to news from Hash World, the People's Bank of China held a work coordination mechanism meeting on November 28 to combat the speculation of Virtual Money trading.
The meeting emphasized that virtual money does not have the legal status of fiat currency, lacks legal tender status, and cannot be used as currency in the market.
Activities related to Virtual Money are deemed illegal financial activities. It is specifically noted that stablecoins are a type of Virtual Money, which currently cannot meet customer identity verification and anti-money laundering requirements, posing risks for money laundering, fundraising fraud, and illegal cross-border fund transfers.