$IRYS On November 27, 2022, Pan Gongsheng, the Governor of the People's Bank of China, reiterated at the Financial Street Forum Annual Meeting that the regulatory policies for Virtual Money since 2017 remain effective. The next step will be to continue to crack down on the operations and speculation of Virtual Money within the country in conjunction with law enforcement agencies. The policy logic has shifted from "vague and unprotected" to "direct violations, severe violations being illegal," clearly stating that stablecoin, as a branch of Virtual Money, is illegal at all stages including issuance, trading, and exchange within the country.
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$IRYS On November 27, 2022, Pan Gongsheng, the Governor of the People's Bank of China, reiterated at the Financial Street Forum Annual Meeting that the regulatory policies for Virtual Money since 2017 remain effective. The next step will be to continue to crack down on the operations and speculation of Virtual Money within the country in conjunction with law enforcement agencies. The policy logic has shifted from "vague and unprotected" to "direct violations, severe violations being illegal," clearly stating that stablecoin, as a branch of Virtual Money, is illegal at all stages including issuance, trading, and exchange within the country.