The People's Bank of China and ten other departments jointly issued the "Notice on Further Preventing and Dealing with the Risks of Virtual Money Trading Speculation", requiring a firm crackdown on virtual money trading speculation and the rectification of the chaos in virtual money.

Regarding stablecoins, the meeting clearly pointed out that stablecoins currently do not effectively meet the requirements for client identification, anti-money laundering, and other aspects, and there are risks of being used for illegal activities such as money laundering, fundraising fraud, and unauthorized cross-border fund transfers.

The meeting requires all units to deepen collaboration, improve regulatory policies and legal basis, focus on key links such as information flow and capital flow, strengthen information sharing, further enhance monitoring capabilities, severely crack down on illegal activities, and maintain the stability of the economic and financial order.