The Notice on Bitcoin Risks issued by the Central Bank and other five ministries and commissions stipulates that Bitcoin Internet sites, as the main trading platform of Bitcoin, should be filed with the telecommunications regulatory authorities in accordance with the provisions of the People's Republic of China (PRC) Telecommunications Regulations and the Measures for the Administration of Internet Information Services. At the same time, in view of the high risk of money laundering and the risk of being exploited by criminals, the Notice requires relevant institutions to effectively fulfill their legal anti-money laundering obligations such as customer identification and suspicious transaction reporting in accordance with the requirements of the Anti-Money Laundering Law of People's Republic of China (PRC), so as to effectively prevent money laundering risks related to Bitcoin.
The "Notice" clarifies the nature of Bitcoin, and holds that Bitcoin is not issued by the monetary authorities, has no monetary attributes such as statutory compensation and coercion, and is not a real currency. In nature, bitcoin is a specific virtual commodity, which does not have the same legal status as currency, and cannot and should not be used as currency in the market. However, as a commodity transaction on the Internet, ordinary people have the freedom to participate at their own risk.