$XNY Correctly understand the essential attributes of virtual currencies, real-world asset tokenization, and related activities

Virtual currencies are not issued by monetary authorities, are not legal tender of any country, do not have the same legal status as fiat currency, and cannot be used as currency for circulation within China. Among them, coins such as Pi and other "air coins" lack substantial technological innovation, have no clear commercial application scenarios or value, feature non-transparent issuance and operation mechanisms, and serious issues with fraud and market manipulation. There are also frequent pyramid schemes and scams conducted under their name. Stablecoins currently cannot effectively meet requirements for customer identification, anti-money laundering, and other regulations, posing risks of being used for money laundering, fundraising fraud, illegal cross-border capital transfers, and other illegal activities. Real-world asset tokenization involves financing and trading activities through issuing tokens or other rights and bond certificates with token-like characteristics, and carries multiple risks, including fake asset risks, operational failure risks, and speculative risks. At present, no real-world asset tokenization activities have been approved by Chinese financial regulatory authorities.