Post #550

🇨🇳 The People’s Bank of China has stated that virtual assets are not money, have no legal tender status, and any activity involving their use is considered an illegal financial operation. The regulator also emphasized that stablecoins fall under the category of virtual assets and carry significant risks due to non-compliance with KYC/AML requirements, including the potential for money laundering and illegal cross-border transfers. #News Alpha | Chat