Illegal. Vicat is a virtual currency, so it is illegal in China, because it has no real value. The People's Bank of China issued a notice on further preventing and handling the speculative risk of virtual currency transactions. The notice pointed out that virtual currency does not have the same legal status as legal tender. The main features of virtual currencies such as Bitcoin, Ethereum and TEDA are that they are issued by non-monetary authorities and exist in digital form by using encryption technology and distributed accounts or similar technologies. They have no legal compensation and should not and cannot be circulated in the market as money.