Vice President of the Bank of Anyang Branch: Virtual currency cannot be used as currency in the market

According to the Anyang Daily News, Wang Xin, a member of the Party Committee and deputy governor of the Anyang City Central Branch of the People's Bank of China, said that the virtual currency currently on the market does not have the monetary nature, is a non-statutory currency, and does not have monetary attributes such as legal and mandatory. It does not have the legal status equivalent to currency and cannot be used as currency in the market. Our propagandists take various channels to publicize the masses and hope that the public will recognize the true face of virtual currency. The future legal digital currency is a digital currency issued by the central bank, supported by the state's credit, and fully equivalent to legal banknotes and coins. China has banned direct transactions between virtual and legal tenders. Financial institutions, payment institutions, and any so-called token financing trading platforms are not allowed to engage in exchange between legal tenders and virtual currencies.