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China's Eight Departments Document No. 42: Complete Ban on Virtual Currencies, RWA Opens the Floodgates
• On February 6, the People's Bank of China and seven other departments issued a document clarifying that domestic trading, mining, and promotion of BTC/ETH/USDT are illegal across the entire chain
• Repealed Document No. 924, officially distinguishing virtual currencies from compliant RWA (asset tokenization)