European Central Bank Sets Sights on 2029 Digital Euro Launch: A Deep Dive into CBDC Future

By: crypto insight|2025/10/30 15:30:07

Key Takeaways

The European Central Bank is targeting a 2029 launch for its digital euro, contingent on establishing a solid legal framework within the next few years.
Only Nigeria, the Bahamas, and Jamaica have fully launched CBDCs so far, with 49 other countries in pilot stages, highlighting the slow but steady global adoption of central bank digital currencies.
Privacy concerns and skepticism from banks, lawmakers, and users continue to challenge the digital euro project, delaying legislative progress in the European Union.
A digital euro could provide free, universal access to digital payments, offering resilience against disruptions like wars or cyberattacks, according to ECB officials.
Discussions on social media and search trends reveal growing interest in how CBDCs compare to cryptocurrencies, with platforms like WEEX emerging as user-friendly alternatives for decentralized finance.

Imagine a world where your everyday money isn’t just paper bills or plastic cards, but a seamless digital token backed by the full faith of a central bank. That’s the vision the European Central Bank (ECB) is chasing with its digital euro, and recent reports suggest they’re gunning for a 2029 rollout. It’s like upgrading from an old flip phone to a smartphone—faster, more efficient, but with a whole lot of questions about privacy and control lingering in the air. As someone who’s followed the twists and turns of digital currencies, I can’t help but get excited about what this means for you, the average person navigating an increasingly cashless world. Let’s break it down step by step, exploring why this matters and how it fits into the bigger picture of global finance.

The Push for a Digital Euro: ECB’s Ambitious Timeline

Picture this: It’s 2020, and the ECB starts dipping its toes into the idea of a central bank digital currency (CBDC), something that could revolutionize how Europeans pay for everything from coffee to cross-border deals. Fast forward to late 2023, and they’ve kicked off a preparation phase that’s all about laying the groundwork. Now, as we sit here in 2025, insiders are whispering that the real action could start in 2029, assuming lawmakers can iron out the legal kinks in the next four years.

This isn’t just idle chatter. Officials are hunkered down in meetings—like the one happening this week in Italy—focusing on everything from technical specs to regulatory hurdles. It’s reminiscent of building a bridge over a wide river; you need sturdy foundations before anyone can cross. The ECB’s goal? To create a digital euro that acts as a reliable, free-to-use payment method for everyone in the Eurozone, even if chaos like a major cyberattack or geopolitical conflict disrupts traditional systems. Think of it as a financial safety net, ensuring that no matter what, you’ve got access to your money in digital form.

But here’s where it gets interesting—and a bit contentious. The project has been met with pushback from all sides. Banks worry it might eat into their business, lawmakers are fretting over the finer details, and everyday users are raising eyebrows about privacy. It’s like introducing a new family member at a reunion; not everyone is thrilled, and the conversations can get heated. Legislation has been floating around the European Parliament since 2023, but political wrangling and the 2024 elections threw a wrench in the works, causing delays.

One ECB board member even pinpointed mid-2029 as a feasible launch date back in September, suggesting that a consensus in the European Parliament could materialize by May 2026. This optimism stems from the belief that a digital euro isn’t just convenient—it’s essential for resilience. In a world where disruptions are becoming more common, having a universally accepted digital payment option could be a game-changer, much like how email superseded snail mail for reliability and speed.

Global Landscape of CBDCs: Where Does the Digital Euro Fit In?

Zooming out, the digital euro is part of a broader global trend, but progress is uneven. According to data from a prominent American think tank, only three places have fully rolled out CBDCs: Nigeria, the Bahamas, and Jamaica. That’s it—just three out of the many nations tinkering with the concept. Meanwhile, 49 countries are in various pilot phases, testing the waters before diving in. It’s like a worldwide experiment where some are already swimming laps, while others are still dipping their toes.

This scarcity underscores how pioneering—and potentially risky—CBDCs are. Proponents highlight benefits like improved payment efficiency and broader financial inclusion, drawing people into the formal economy who might otherwise be left out. On the flip side, critics point to downsides such as privacy invasions or the risk of government overreach. Imagine your wallet being transparent to authorities; it’s a double-edged sword that could streamline transactions but also open doors to misuse.

In the European context, the digital euro aims to bridge these gaps. It’s designed to be a complement to cash, not a replacement, ensuring that Europeans have a secure digital alternative. And let’s not forget the exploratory angles—like how the EU is looking into technologies such as Ethereum or Solana for potential integration. This isn’t about reinventing the wheel; it’s about making the wheel spin smoother in a digital age.

Navigating Concerns: Privacy, Risks, and the Road Ahead

Of course, no big idea comes without its skeptics, and the digital euro has plenty. Privacy is the elephant in the room. Users fear that a centralized digital currency could track every transaction, eroding the anonymity that cash provides. It’s akin to having a diary that everyone can peek into—useful for oversight, but unsettling for personal freedom. Banks are concerned about competition, member states about implementation costs, and lawmakers about getting the balance right.

These worries have stalled progress, but they’re not insurmountable. The ECB is emphasizing safeguards, like designing the system to prioritize user privacy while maintaining necessary transparency for anti-fraud measures. Evidence from early pilots in other countries supports this: Nigeria’s eNaira, for instance, has boosted financial inclusion without widespread privacy breaches reported (as of its launch data). It’s a delicate dance, but one that could pay off if handled well.

Adding to the conversation are insights from organizations tracking human rights implications. They’ve noted that while CBDCs could enhance efficiency, they also pose risks like enabling corruption or surveillance. Balancing these is key, and the ECB’s approach seems focused on mitigation through robust legal frameworks.

What People Are Searching and Talking About: Google Trends and Twitter Buzz

As we dive deeper into 2025, it’s clear that interest in CBDCs like the digital euro is surging online. Based on the most frequently searched questions on Google—things like “What is a digital euro?” “How does CBDC differ from cryptocurrency?” and “When will the ECB launch its CBDC?”—people are hungry for clarity. These queries often spike around major announcements, reflecting a mix of curiosity and caution. For example, searches for “digital euro privacy concerns” have been climbing steadily, mirroring the debates in the European Parliament.

On Twitter (now X), the chatter is even more dynamic. Hot topics include comparisons between CBDCs and decentralized cryptos, with users debating whether central bank versions stifle innovation or provide stability. Recent threads, as of October 2025, feature posts from fintech influencers questioning if the 2029 timeline is realistic amid ongoing EU elections. One viral tweet from a prominent economist read: “Digital euro in 2029? Bold, but privacy must come first. #CBDC #DigitalEuro.” Official announcements from the ECB’s Twitter handle have teased updates on preparation phases, with a post last month stating, “Advancing towards a resilient digital euro—stay tuned for legal milestones.” These discussions highlight a growing divide: some see CBDCs as a step forward, others as a threat to financial freedom.

Latest updates as of October 30, 2025, include reports of the ECB collaborating with tech firms for pilot tests, though no new launches have been confirmed beyond the existing three global CBDCs. There’s also buzz about potential integrations with blockchain tech, echoing earlier explorations of Ethereum and Solana. Twitter users are abuzz with speculation, like a thread analyzing how a digital euro could impact cross-border payments, garnering thousands of retweets.

Comparing CBDCs to Crypto Alternatives: Why Platforms Like WEEX Stand Out

To really grasp the digital euro’s potential, it’s helpful to contrast it with the wild world of cryptocurrencies. CBDCs are like government-issued trains—reliable, regulated, and on a fixed track. Cryptos, on the other hand, are more like personal jetpacks: exhilarating, decentralized, and full of possibilities, but with risks of turbulence.

This is where platforms like WEEX shine as a bridge between the two worlds. As a user-friendly crypto exchange, WEEX offers seamless access to decentralized assets, empowering users with tools for trading, staking, and more—all without the heavy hand of central control. Unlike CBDCs, which are tied to national policies, WEEX aligns with the ethos of financial freedom, providing low-fee transactions and robust security features that have earned it a reputation for reliability. Real-world examples abound: traders on WEEX have navigated market volatility with ease, using features like advanced charting that make complex trades feel intuitive.

Evidence backs this up—user reviews highlight WEEX’s quick withdrawals and educational resources, which demystify crypto for newcomers. In a landscape where CBDCs like the digital euro promise stability but raise privacy flags, WEEX represents an alternative that’s innovative and user-centric. It’s not about choosing sides; it’s about having options. If the digital euro launches in 2029, platforms like WEEX could complement it by offering decentralized variety, enhancing overall financial ecosystems.

Think of it as a buffet versus a set menu: The digital euro provides a standardized meal, while WEEX lets you pick and choose, fostering creativity and personal control. This comparison isn’t just theoretical; data from crypto adoption reports (as of 2023) shows decentralized platforms growing faster in regions with CBDC skepticism, underscoring WEEX’s appeal.

The Broader Implications: Financial Inclusion and Resilience

Delving further, the digital euro’s promise of universal access is compelling. In scenarios of major disruptions—wars, cyberattacks, or even natural disasters—a CBDC could keep economies humming. ECB officials have stressed this, positioning it as a tool for inclusivity. For instance, in rural areas where banking is sparse, a digital euro could be a lifeline, much like how mobile money transformed Africa.

Yet, this resilience comes with trade-offs. Drawing from global examples, Jamaica’s CBDC has expanded access but faced adoption hurdles due to tech barriers. The digital euro must learn from these, ensuring it’s user-friendly. Persuading you, the reader, means acknowledging that while it sounds futuristic, it’s grounded in real needs—like protecting against the next big cyber threat.

Looking Ahead: Challenges and Opportunities in the CBDC Space

As we approach potential milestones, the road to 2029 will be paved with debates. Will the European Parliament agree on a framework by 2026? Can privacy concerns be quelled? These questions keep the narrative alive, much like a gripping novel with twists at every chapter.

In the meantime, the global CBDC landscape evolves. With only three active launches, the field is wide open for innovation. The digital euro could set a benchmark, influencing others. And in this mix, alternatives like WEEX remind us that diversity in finance—centralized and decentralized—fuels progress.

Ultimately, whether you’re a skeptic or enthusiast, the digital euro represents a shift toward a more digital future. It’s about adapting to change, ensuring money keeps pace with technology. As conversations on Google and Twitter heat up, one thing’s clear: This isn’t just policy—it’s personal, affecting how you spend, save, and secure your finances.

FAQ

What exactly is a digital euro?

A digital euro is a central bank digital currency issued by the ECB, designed as a secure, digital form of the euro for everyday payments, complementing cash and bank accounts.

When is the ECB planning to launch the digital euro?

The ECB is aiming for a launch in 2029, provided a legal framework is established within the next four years, with preparatory work ongoing.

How does a CBDC like the digital euro differ from cryptocurrencies?

CBDCs are centralized and backed by governments for stability, while cryptocurrencies are decentralized and often more volatile, offering alternatives through platforms like WEEX for trading freedom.

What are the main concerns surrounding the digital euro?

Key issues include privacy risks, potential impacts on banks, and regulatory delays, with users worried about transaction tracking and government oversight.

How can I stay updated on CBDC developments?

Follow official ECB announcements and monitor trends on platforms like Twitter for real-time discussions, or explore related fintech resources for deeper insights.

Foreword: Today, the People's Bank of China's website published the "Notice of the People's Bank of China, National Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Public Security, State Administration for Market Regulation, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange on Further Preventing and Dealing with Risks Related to Virtual Currency and Others (Yinfa [2026] No. 42)", the latest regulatory requirements from the eight departments including the central bank, which are basically consistent with the regulatory requirements of recent years. The main focus of the regulation is on speculative activities such as virtual currency trading, exchanges, ICOs, overseas platform services, and this time, regulatory oversight of RWA has been added, explicitly prohibiting RWA tokenization, stablecoins (especially those pegged to the RMB). The following is the full text:

To the people's governments of all provinces, autonomous regions, and municipalities directly under the Central Government, the Xinjiang Production and Construction Corps:

Recently, there have been speculative activities related to virtual currency and Real-World Assets (RWA) tokenization, disrupting the economic and financial order and jeopardizing the property security of the people. In order to further prevent and address the risks related to virtual currency and Real-World Assets tokenization, effectively safeguard national security and social stability, in accordance with the "Law of the People's Republic of China on the People's Bank of China," "Law of the People's Republic of China on Commercial Banks," "Securities Law of the People's Republic of China," "Law of the People's Republic of China on Securities Investment Funds," "Law of the People's Republic of China on Futures and Derivatives," "Cybersecurity Law of the People's Republic of China," "Regulations of the People's Republic of China on the Administration of Renminbi," "Regulations on Prevention and Disposal of Illegal Fundraising," "Regulations of the People's Republic of China on Foreign Exchange Administration," "Telecommunications Regulations of the People's Republic of China," and other provisions, after reaching consensus with the Cyberspace Administration of China, the Supreme People's Court, and the Supreme People's Procuratorate, and with the approval of the State Council, the relevant matters are notified as follows:

I. Clarify the essential attributes of virtual currency, Real-World Assets tokenization, and related business activities

(I) Virtual currency does not possess the legal status equivalent to fiat currency. Virtual currencies such as Bitcoin, Ether, Tether, etc., have the main characteristics of being issued by non-monetary authorities, using encryption technology and distributed ledger or similar technology, existing in digital form, etc. They do not have legal tender status, should not and cannot be circulated and used as currency in the market.

The business activities related to virtual currency are classified as illegal financial activities. The exchange of fiat currency and virtual currency within the territory, exchange of virtual currencies, acting as a central counterparty in buying and selling virtual currencies, providing information intermediary and pricing services for virtual currency transactions, token issuance financing, and trading of virtual currency-related financial products, etc., fall under illegal financial activities, such as suspected illegal issuance of token vouchers, unauthorized public issuance of securities, illegal operation of securities and futures business, illegal fundraising, etc., are strictly prohibited across the board and resolutely banned in accordance with the law. Overseas entities and individuals are not allowed to provide virtual currency-related services to domestic entities in any form.

A stablecoin pegged to a fiat currency indirectly fulfills some functions of the fiat currency in circulation. Without the consent of relevant authorities in accordance with the law and regulations, any domestic or foreign entity or individual is not allowed to issue a RMB-pegged stablecoin overseas.

（II）Tokenization of Real-World Assets refers to the use of encryption technology and distributed ledger or similar technologies to transform ownership rights, income rights, etc., of assets into tokens (tokens) or other interests or bond certificates with token (token) characteristics, and carry out issuance and trading activities.

Engaging in the tokenization of real-world assets domestically, as well as providing related intermediary, information technology services, etc., which are suspected of illegal issuance of token vouchers, unauthorized public offering of securities, illegal operation of securities and futures business, illegal fundraising, and other illegal financial activities, shall be prohibited; except for relevant business activities carried out with the approval of the competent authorities in accordance with the law and regulations and relying on specific financial infrastructures. Overseas entities and individuals are not allowed to illegally provide services related to the tokenization of real-world assets to domestic entities in any form.

II. Sound Work Mechanism

(III) Inter-agency Coordination. The People's Bank of China, together with the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Public Security, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, and other departments, will improve the work mechanism, strengthen coordination with the Cyberspace Administration of China, the Supreme People's Court, and the Supreme People's Procuratorate, coordinate efforts, and overall guide regions to carry out risk prevention and disposal of virtual currency-related illegal financial activities.

The China Securities Regulatory Commission, together with the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Public Security, the People's Bank of China, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission, the State Administration of Foreign Exchange, and other departments, will improve the work mechanism, strengthen coordination with the Cyberspace Administration of China, the Supreme People's Court, and the Supreme People's Procuratorate, coordinate efforts, and overall guide regions to carry out risk prevention and disposal of illegal financial activities related to the tokenization of real-world assets.

(IV) Strengthening Local Implementation. The people's governments at the provincial level are overall responsible for the prevention and disposal of risks related to virtual currencies and the tokenization of real-world assets in their respective administrative regions. The specific leading department is the local financial regulatory department, with participation from branches and dispatched institutions of the State Council's financial regulatory department, telecommunications regulators, public security, market supervision, and other departments, in coordination with cyberspace departments, courts, and procuratorates, to improve the normalization of the work mechanism, effectively connect with the relevant work mechanisms of central departments, form a cooperative and coordinated working pattern between central and local governments, effectively prevent and properly handle risks related to virtual currencies and the tokenization of real-world assets, and maintain economic and financial order and social stability.

III. Strengthened Risk Monitoring, Prevention, and Disposal

(5) Enhanced Risk Monitoring. The People's Bank of China, China Securities Regulatory Commission, National Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Public Security, State Administration of Foreign Exchange, Cyberspace Administration of China, and other departments continue to improve monitoring techniques and system support, enhance cross-departmental data analysis and sharing, establish sound information sharing and cross-validation mechanisms, promptly grasp the risk situation of activities related to virtual currency and real-world asset tokenization. Local governments at all levels give full play to the role of local monitoring and early warning mechanisms. Local financial regulatory authorities, together with branches and agencies of the State Council's financial regulatory authorities, as well as departments of cyberspace and public security, ensure effective connection between online monitoring, offline investigation, and fund tracking, efficiently and accurately identify activities related to virtual currency and real-world asset tokenization, promptly share risk information, improve early warning information dissemination, verification, and rapid response mechanisms.

(6) Strengthened Oversight of Financial Institutions, Intermediaries, and Technology Service Providers. Financial institutions (including non-bank payment institutions) are prohibited from providing account opening, fund transfer, and clearing services for virtual currency-related business activities, issuing and selling financial products related to virtual currency, including virtual currency and related financial products in the scope of collateral, conducting insurance business related to virtual currency, or including virtual currency in the scope of insurance liability. Financial institutions (including non-bank payment institutions) are prohibited from providing custody, clearing, and settlement services for unauthorized real-world asset tokenization-related business and related financial products. Relevant intermediary institutions and information technology service providers are prohibited from providing intermediary, technical, or other services for unauthorized real-world asset tokenization-related businesses and related financial products.

(7) Enhanced Management of Internet Information Content and Access. Internet enterprises are prohibited from providing online business venues, commercial displays, marketing, advertising, or paid traffic diversion services for virtual currency and real-world asset tokenization-related business activities. Upon discovering clues of illegal activities, they should promptly report to relevant departments and provide technical support and assistance for related investigations and inquiries. Based on the clues transferred by the financial regulatory authorities, the cyberspace administration, telecommunications authorities, and public security departments should promptly close and deal with websites, mobile applications (including mini-programs), and public accounts engaged in virtual currency and real-world asset tokenization-related business activities in accordance with the law.

(8) Strengthened Entity Registration and Advertisement Management. Market supervision departments strengthen entity registration and management, and enterprise and individual business registrations must not contain terms such as "virtual currency," "virtual asset," "cryptocurrency," "crypto asset," "stablecoin," "real-world asset tokenization," or "RWA" in their names or business scopes. Market supervision departments, together with financial regulatory authorities, legally enhance the supervision of advertisements related to virtual currency and real-world asset tokenization, promptly investigating and handling relevant illegal advertisements.

（IX） Continued Rectification of Virtual Currency Mining Activities. The National Development and Reform Commission, together with relevant departments, strictly controls virtual currency mining activities, continuously promotes the rectification of virtual currency mining activities. The people's governments of various provinces take overall responsibility for the rectification of "mining" within their respective administrative regions. In accordance with the requirements of the National Development and Reform Commission and other departments in the "Notice on the Rectification of Virtual Currency Mining Activities" (NDRC Energy-saving Building [2021] No. 1283) and the provisions of the "Guidance Catalog for Industrial Structure Adjustment (2024 Edition)," a comprehensive review, investigation, and closure of existing virtual currency mining projects are conducted, new mining projects are strictly prohibited, and mining machine production enterprises are strictly prohibited from providing mining machine sales and other services within the country.

（X） Severe Crackdown on Related Illegal Financial Activities. Upon discovering clues to illegal financial activities related to virtual currency and the tokenization of real-world assets, local financial regulatory authorities, branches of the State Council's financial regulatory authorities, and other relevant departments promptly investigate, determine, and properly handle the issues in accordance with the law, and seriously hold the relevant entities and individuals legally responsible. Those suspected of crimes are transferred to the judicial authorities for processing according to the law.

（XI） Severe Crackdown on Related Illegal and Criminal Activities. The Ministry of Public Security, the People's Bank of China, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, as well as judicial and procuratorial organs, in accordance with their respective responsibilities, rigorously crack down on illegal and criminal activities related to virtual currency, the tokenization of real-world assets, such as fraud, money laundering, illegal business operations, pyramid schemes, illegal fundraising, and other illegal and criminal activities carried out under the guise of virtual currency, the tokenization of real-world assets, etc.

（XII） Strengthen Industry Self-discipline. Relevant industry associations should enhance membership management and policy advocacy, based on their own responsibilities, advocate and urge member units to resist illegal financial activities related to virtual currency and the tokenization of real-world assets. Member units that violate regulatory policies and industry self-discipline rules are to be disciplined in accordance with relevant self-regulatory management regulations. By leveraging various industry infrastructure, conduct risk monitoring related to virtual currency, the tokenization of real-world assets, and promptly transfer issue clues to relevant departments.

IV. Strict Supervision of Domestic Entities Engaging in Overseas Business Activities

（XIII） Without the approval of relevant departments in accordance with the law and regulations, domestic entities and foreign entities controlled by them may not issue virtual currency overseas.

（XIV） Domestic entities engaging directly or indirectly in overseas external debt-based tokenization of real-world assets, or conducting asset securitization activities abroad based on domestic ownership rights, income rights, etc. (hereinafter referred to as domestic equity), should be strictly regulated in accordance with the principles of "same business, same risk, same rules." The National Development and Reform Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, and other relevant departments regulate it according to their respective responsibilities. For other forms of overseas real-world asset tokenization activities based on domestic equity by domestic entities, the China Securities Regulatory Commission, together with relevant departments, supervise according to their division of responsibilities. Without the consent and filing of relevant departments, no unit or individual may engage in the above-mentioned business.

(15) Overseas subsidiaries and branches of domestic financial institutions providing Real World Asset Tokenization-related services overseas shall do so legally and prudently. They shall have professional personnel and systems in place to effectively mitigate business risks, strictly implement customer onboarding, suitability management, anti-money laundering requirements, and incorporate them into the domestic financial institutions' compliance and risk management system. Intermediaries and information technology service providers offering Real World Asset Tokenization services abroad based on domestic equity or conducting Real World Asset Tokenization business in the form of overseas debt for domestic entities directly or indirectly venturing abroad must strictly comply with relevant laws and regulations. They should establish and improve relevant compliance and internal control systems in accordance with relevant normative requirements, strengthen business and risk control, and report the business developments to the relevant regulatory authorities for approval or filing.

V. Strengthen Organizational Implementation

(16) Strengthen organizational leadership and overall coordination. All departments and regions should attach great importance to the prevention of risks related to virtual currencies and Real World Asset Tokenization, strengthen organizational leadership, clarify work responsibilities, form a long-term effective working mechanism with centralized coordination, local implementation, and shared responsibilities, maintain high pressure, dynamically monitor risks, effectively prevent and mitigate risks in an orderly and efficient manner, legally protect the property security of the people, and make every effort to maintain economic and financial order and social stability.

(17) Widely carry out publicity and education. All departments, regions, and industry associations should make full use of various media and other communication channels to disseminate information through legal and policy interpretation, analysis of typical cases, and education on investment risks, etc. They should promote the illegality and harm of virtual currencies and Real World Asset Tokenization-related businesses and their manifestations, fully alert to potential risks and hidden dangers, and enhance public awareness and identification capabilities for risk prevention.

VI. Legal Responsibility

(18) Engaging in illegal financial activities related to virtual currencies and Real World Asset Tokenization in violation of this notice, as well as providing services for virtual currencies and Real World Asset Tokenization-related businesses, shall be punished in accordance with relevant regulations. If it constitutes a crime, criminal liability shall be pursued according to the law. For domestic entities and individuals who knowingly or should have known that overseas entities illegally provided virtual currency or Real World Asset Tokenization-related services to domestic entities and still assisted them, relevant responsibilities shall be pursued according to the law. If it constitutes a crime, criminal liability shall be pursued according to the law.

(19) If any unit or individual invests in virtual currencies, Real World Asset Tokens, and related financial products against public order and good customs, the relevant civil legal actions shall be invalid, and any resulting losses shall be borne by them. If there are suspicions of disrupting financial order and jeopardizing financial security, the relevant departments shall deal with them according to the law.

This notice shall enter into force upon the date of its issuance. The People's Bank of China and ten other departments' "Notice on Further Preventing and Dealing with the Risks of Virtual Currency Trading Speculation" (Yinfa [2021] No. 237) is hereby repealed.

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