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#成长值抽奖赢iPhone17和周边 The People's Bank of China officially published an article titled "Coordination Mechanism Meeting for Combating Virtual Money Trading Speculation" which discusses the latest developments regarding Virtual Money and stablecoins.
The article provides the latest definition of stablecoins, stating that "stablecoins are a form of virtual money, and currently cannot effectively meet customer identification, anti-money laundering and other requirements, posing risks of being used for illegal activities such as money laundering, fundraising fraud, and illegal cross-border fund transfers."
A well-known WEB 3 industry lawyer mentioned to Barron's Chinese that "stablecoins are a form of Virtual Money. This is the first time that the official documents have clearly defined stablecoins and directly included them in the regulatory framework of 'illegal financial activities involving Virtual Money.' It basically negates various discussions about stablecoins in the mainland."