The People's Bank of China (PBOC) announced plans to intensify enforcement against virtual currency-related activities, focusing specifically on domestic traders and local affiliated entities of overseas issuance and trading platforms. A PBOC department head stated that cryptocurrencies currently fail to meet customer identification and anti-money laundering requirements, while easily triggering market speculation. Working alongside relevant government departments and local authorities, the central bank will continue to crack down on these business activities within China to safeguard economic and financial order. This directive reinforces Beijing's strict stance on prohibiting cryptocurrency trading and services domestically.