Li Aijun, China University of Political Science and Law: Virtual currency supervision should focus on monitoring the functions and uses of virtual currencies

Recently, in addition to Shenzhen, Beijing, Shanghai and other places have also issued announcements to conduct comprehensive investigations on virtual currency trading activities within their jurisdiction and severely crack down on virtual currency transaction behavior. Regarding the country's current supervision in this regard, Li Aijun, dean of the Institute of Internet Finance Law of China University of Political Science and Law, said in an interview that the focus is on monitoring the functions and uses of virtual currencies. According to the current situation, for the supervision of virtual currency, we should focus on preventing any form of virtual currency from replacing the function of RMB and engaging in illegal acts through virtual currency, that is, strengthening the supervision of the functions and uses of virtual currency. Li Aijun believes that according to the relevant provisions of the "People's Bank of China Law", the issuers and users of virtual currencies are at risk of forging, altering RMB, holding and using counterfeit currencies.