State's attitude towards Bitcoin

Legal analysis: China's current regulatory attitude towards Bitcoin mainly includes the following three aspects:

1. Bitcoin is not legal tender;

2. Bitcoin is a virtual commodity;

3. The State prohibits token financing trading platforms from engaging in the exchange business between legal tender and tokens and virtual currency.

Legal basis: Notice of the People's Bank of China, Ministry of Industry and Information Technology, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission on preventing bitcoin risks.

1. All financial institutions and payment institutions shall, in accordance with the requirements of the Notice, strengthen the management of bitcoin-related businesses, comprehensively clean up their own bitcoin-related products or services, and shall not continue to carry out such businesses, and do a good job in withdrawing such businesses from the market.

2. All branches of the People's Bank of China shall, in accordance with the requirements of the Notice, bring the legally established institutions within their jurisdiction that provide services such as bitcoin registration and trading into anti-money laundering supervision, urge them to strengthen anti-money laundering monitoring, and effectively prevent money laundering risks that may be caused by bitcoin.

Three, the telecommunications management department should strengthen the management of bitcoin Internet sites, according to the relevant administrative departments of the identification and punishment, according to the law to close the illegal bitcoin Internet sites.