Central Bank and other departments: Crack down severely on illegal financial activities related to virtual currencies

The central bank and other departments issued a notice on further preventing and addressing risks related to virtual currencies and other assets, which emphasizes cracking down on illegal financial activities. Upon discovering clues of illegal financial activities related to virtual currencies and real-world asset tokenization, relevant departments such as local financial regulatory authorities, branches and dispatched agencies of the State Council’s financial management departments shall investigate, verify, and handle the cases promptly and properly according to law. They will also hold relevant organizations and individuals accountable and, if criminal activity is suspected, transfer the case to judicial authorities for processing.