Does China have any legislation on virtual currency transactions?

In recent years, virtual currency trading has been booming around the world. In order to regulate the market order and protect the rights and interests of investors, many countries have introduced relevant legislative measures. For China, virtual currency trading legislation has always attracted much attention. As of now, the Chinese government has not issued clear legislative documents, but has taken a series of regulatory measures to strengthen the management of virtual currency transactions. In this article, PHP editor Banana will analyze in detail whether China has legislation on virtual currency transactions, and discuss the development and impact of relevant policies.

In September 2017, the China National Development and Reform Commission issued an announcement clearly stating that China does not recognize digital token issuance for financing, nor does it recognize its use as currency.

In 2018, the People's Bank of China issued the "Announcement on Preventing Financing Risks of Token Issuance", which clearly stated that the Chinese government does not recognize any virtual currency and prohibits financial institutions and other institutions from issuing, trading or using virtual currencies.

The People's Bank of China also issued the "Announcement on Prohibiting the Issuance and Financing of Virtual Currency", emphasizing that the Chinese government will strictly prohibit financial institutions and other institutions from issuing, trading or using any virtual currency.

The People’s Bank of China recently issued an announcement announcing that it will establish a regulatory mechanism for virtual currency transactions and strengthen regulatory measures for virtual currency transactions. This initiative aims to ensure the legality, safety and orderliness of virtual currency transactions.

In short, the Chinese government has adopted legislative and regulatory measures on virtual currency transactions, aiming to prevent the financing risks of virtual currency issuance, protect the interests of investors, and maintain the stability of the financial market. These measures are to ensure the legality, safety and orderliness of virtual currency transactions.

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