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The China Securities Regulatory Commission (CSRC) and eight other departments jointly issued the "Notice on Further Preventing and Handling Risks Related to Virtual Currencies," reiterating that virtual currencies do not have the same legal status as fiat currencies. It also emphasized the prohibition of illegal intermediary and technical service activities related to RWA tokenization within China.
This comes just as the market experienced a sharp drop today, coupled with this domestic policy announcement. Does this mean the market has truly bottomed out?

The document also states: If a civil legal act violates public order and good morals, the relevant act is invalid, and any resulting losses shall be borne by the individual.
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