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XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $460.12 +3.82%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
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activities

The heads of the central bank and the securities regulatory commission: The domestic policy stance has always been prohibitive towards activities related to virtual currencies

According to Jinshi reports, relevant officials from the People's Bank of China and the China Securities Regulatory Commission answered reporters' questions regarding the "Notice on Further Preventing and Dealing with Risks Related to Virtual Currencies." They stated that regarding virtual currencies, there has long been a prohibitive policy stance on related business activities within the country.In 2013, the People's Bank of China and five other departments jointly issued the "Notice on Preventing Bitcoin Risks," which clarified that Bitcoin is a specific virtual commodity and should not be circulated or used as currency in the market. The "Notice on Further Preventing and Dealing with Risks of Virtual Currency Trading Speculation," issued in 2021, further clarified that Bitcoin, Ethereum, and stablecoins such as Tether do not have the same legal status as fiat currency, and conducting virtual currency-related business activities within the country is considered illegal financial activity and is strictly prohibited.The notice continues the policy stance of recent years, reiterating that virtual currencies do not have the same legal status as fiat currency, and conducting virtual currency-related business activities within the country is illegal financial activity. Foreign entities and individuals are not allowed to illegally provide virtual currency-related services to domestic entities in any form.

The notice issued by Butuo County, Sichuan, China, prohibits the conduct of virtual currency mining activities

The Liangshan Yi Autonomous Prefecture of Sichuan Province, China, recently issued a notice titled "Notice on Prohibiting Virtual Currency Mining Activities," which clearly states that virtual currency "mining" activities are considered outdated production processes and equipment that have been explicitly eliminated by the state. Related business activities are deemed illegal financial activities and will face risks such as loan cuts, power cuts, internet cuts, and credit penalties, with relevant personnel being held accountable for party discipline, administrative discipline, and legal responsibilities.The notice emphasizes that civil legal actions related to investing in virtual currencies and their derivatives are invalid, and any resulting losses must be borne by the individuals themselves. To maintain social stability and regulate market order, the county of Butuo has proposed three measures: first, to prohibit all forms of virtual currency "mining" activities, including but not limited to Bitcoin and Ethereum; second, to require local township governments and regulatory authorities in the telecommunications and electricity sectors to strengthen inspections and supervision according to local and industry management principles, and to crack down on illegal "mining" activities; third, to encourage the public to report illegal "mining" activities.

Gate founder Dr. Han confirmed attendance at Consensus HK, participating in Gate's series of industry exchange activities and delivering a keynote speech

According to official news, Gate founder and CEO Dr. Han has confirmed his attendance at the upcoming Consensus HK conference, where he will also participate in a series of industry exchange activities hosted by Gate and deliver a keynote speech during the event, engaging in in-depth discussions with global Web3 industry practitioners.Consensus HK will take place from February 10 to February 12, gathering core industry participants including representatives from global investment institutions, traditional finance practitioners, Web3 entrepreneurs, and protocol parties. During the conference, Dr. Han will deliver an important keynote speech, sharing Gate's practices and thoughts on globalization, compliance development, and Web3 infrastructure construction. At that time, Gate will also host various forms of exchange activities around core topics such as investment, technology, and institutional collaboration, building a high-quality dialogue and collaboration platform to promote in-depth interaction between different circles and ecological roles.As a leading global cryptocurrency trading platform, Gate is deeply involved in major global Web3 industry summits, connecting capital, technology, and application ecosystems through diverse offline exchange scenarios. In the future, Gate will continue to promote industry communication and cooperation, driving the long-term construction and collaborative development of Web3. More information about related activities will be announced in the near future, so please stay tuned.
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