The People's Bank of China and Seven Other Departments: Prohibit Providing Network Marketing Services or Facilitation for the Issuance and Trading of Virtual Currency

On April 24th, BlockBeats reported that the People's Bank of China, the Ministry of Industry and Information Technology, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the National Intellectual Property Administration, the Cyberspace Administration of China, and the State Administration of Foreign Exchange jointly issued the "Administrative Measures for the Online Marketing of Financial Products." These measures will take effect on September 30, 2026, aiming to regulate online marketing activities of financial products, protect the legitimate rights and interests of financial consumers and investors, and promote the healthy and orderly development of Internet financial businesses.

It is pointed out that no institution or individual shall provide online marketing services or facilitation for illegal financial activities. Illegal financial activities refer to activities that engage in various business activities such as currency, payment, deposit absorption, lending, insurance, securities, funds, futures, and foreign exchange without the approval of the financial regulatory authority or in violation of national financial regulations. These activities include but are not limited to illegal fundraising, illegal securities and futures activities, illegal deposit absorption, illegal lending, issuance and trading of virtual currencies, illegal foreign exchange margin trading, and overseas institutions providing financial product services to domestic residents without permission.