The People's Bank of China and eight other departments stated that virtual currencies do not have the same legal status as legal tender.

PANews reported on February 6th that, according to Jinshi, the People's Bank of China and eight other departments issued a notice (Yinfa [2026] No. 42) on further preventing and handling risks related to virtual currencies. The notice clarifies the essential nature of virtual currencies, the tokenization of real-world assets, and related business activities, stating that virtual currencies do not have the same legal status as fiat currency. Bitcoin, Ethereum, Tether, and other virtual currencies are characterized by being issued by non-monetary authorities, using encryption technology and distributed ledgers or similar technologies, and existing in digital form. They lack legal tender status and should not and cannot be used as currency in the market.