People's Daily Overseas Edition: Bitcoin Does Not Have the

[ChainDD report] March 24 (ChainDD) On March 24, People's Daily Overseas Edition published an article "Bitcoin Rush too High, Pay Attention on Risks".

The article mentioned that Bitcoin did not have a "legal status" as fiat currency. For the nature of Bitcoin, China's regulatory authorities have made clear judgments. "The Notice on Prevention of Bitcoin Risks", issued in 2013, clearly pointed out that Bitcoin was not issued by the monetary authority. "It has no legal compensation and mandatory monetary attributes and it is not a real currency."

In terms of Bitcoin's nature, it could be defined as a specific virtual commodity, which did not have the same legal status as currency and cannot and should not be used as currency in the market. However, as a kind of commodity trading on the Internet, ordinary residents have the freedom to participate in Bitcoin trading at their own risk.

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