Wu said that on November 28, the central bank held a meeting of the coordination mechanism, emphasizing that virtual currency does not have the same legal status as legal tender, is not legally compensated, and should not and cannot be used as currency in the market; The relevant business activities are illegal financial activities. Stablecoins are a form of virtual currency, which currently cannot effectively meet the requirements of customer identification and anti-money laundering, and there is a risk of being used for illegal activities such as money laundering, fundraising fraud, and illegal cross-border transfer of funds.