Gate News reports that on March 11, National People’s Congress Deputy Fu Xiguo submitted a proposal to accelerate the revision and enactment of the “People’s Republic of China Law of the People’s Bank of China.” The proposal points out that the current digital yuan lacks clear legal regulation, and issues related to issuance, circulation, and risk prevention face a legal vacuum, resulting in a lack of legal basis for the central bank to perform its issuance and management duties. This makes it difficult to effectively safeguard the security of digital yuan circulation and the rights of financial consumers. The proposal suggests that the revision of the People’s Bank Law should explicitly establish the legal status of digital yuan as legal currency and clarify the core responsibilities of the central bank as the issuer of digital yuan. The new Law of the People’s Bank should also include behaviors such as counterfeiting and tampering with digital yuan within the scope of legal regulation, clearly define corresponding legal responsibilities and penalties, and ensure the security of digital yuan circulation.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
South Korea's Legal Framework: Crypto Assets Accumulated During Marriage Are Divisible Property
Gate News message, April 25 — According to South Korea's Asia Economy Daily, a woman in her 40s discovered two years after her divorce that her ex-husband had secretly invested in cryptocurrency during their marriage and made substantial profits. Na-hee Kim, an attorney at Saeworld Law, stated that
GateNews2h ago
U.S. Sanctions Iran-Linked Crypto Wallets, Tether Freezes $344M USDT
U.S. Treasury Secretary Scott Bessent announced on Friday that the federal government is sanctioning multiple wallets linked to Iran as part of President Donald Trump's efforts to increase economic pressure on the country amid an ongoing ceasefire, according to CNN. The action follows Tether's
CryptoFrontier2h ago
CFTC Files Amicus Brief with Massachusetts Supreme Judicial Court, Defending Federal Authority Over Prediction Markets
Gate News message, April 25 — The U.S. Commodity Futures Trading Commission (CFTC) filed an amicus brief today with the Massachusetts Supreme Judicial Court, asserting its exclusive federal jurisdiction over commodity derivatives markets, including prediction markets. The case, Commonwealth of Massa
GateNews3h ago
Tennessee Becomes Second U.S. State to Ban Crypto ATMs, Imposing Class A Misdemeanor Penalties
Gate News message, April 24 — Tennessee has become the second U.S. state to outright ban cryptocurrency ATMs after Gov. Bill Lee signed House Bill 2505 into law on April 13. The legislation, which passed both chambers unanimously, was officially codified on Thursday and will take effect July 1.
GateNews5h ago
Italian Researcher Wins 1 BTC Bounty for 32,767-Bit Quantum Attack on Elliptic Curve Keys
Gate News message, April 24 — Giancarlo Lelli, an Italian researcher, has been awarded one Bitcoin after demonstrating the largest-scale quantum attack on elliptic curve cryptography to date. The breakthrough escalates concerns about quantum threats to Bitcoin, Ethereum, and other assets secured
GateNews6h ago
DeFi Stakeholders Petition SEC to Formalize Interface Guidance as Ethereum Proposes Native Privacy Layer
Gate News message, April 24 — The DeFi Education Fund (DEF) and 35 co-signatories, including a16z crypto, Aptos Labs, Uniswap, Chainlink, Paradigm, Solana Policy Institute, and Phantom, have petitioned the Securities and Exchange Commission (SEC) to convert its recent staff guidance on DeFi interfac
GateNews6h ago
