Legal analysis: Blockchain technology originated from Bitcoin and is the underlying supporting technology of Bitcoin. Blockchain is a technology that allows transactions to break through the traditional trust trading mode and centralized architecture and realize transaction security in an unsafe environment.

Legal basis: Notice on Further Prevention and Disposal of Speculative Risks in Virtual Currency Trading. 1. Define the essential attributes of virtual currency and related business activities.

(2) Virtual currency-related business activities are illegal financial activities. Legal tender and virtual currency exchange business, virtual currency exchange business, buying and selling virtual currency as a central counterparty, providing information intermediary and pricing services for virtual currency transactions, token issuance financing, virtual currency derivatives trading and other virtual currency-related business activities are strictly prohibited, and illegal financial activities such as illegal sale of token certificates, unauthorized public issuance of securities, illegal futures business and illegal fund-raising are resolutely banned according to law. If carrying out relevant illegal financial activities constitutes a crime, criminal responsibility shall be investigated according to law.