Regarding the country's position on virtual currency, some people do think that the currency circle is like a scam. But we need to analyze this issue rationally. First of all, the fact that virtual currency can exist in the market for a long time shows that it has its rationality. In addition, some countries such as the United States, Russia, and South Korea support the development of virtual currency, which also shows that virtual currency has legitimacy and development potential to a certain extent.

In China, according to the "Notice on Further Preventing and Dealing with the Risks of Virtual Currency Trading Speculation" (Yinfa [2021] No. 237) issued by the People's Bank of China and other ten departments, it is clearly stated that virtual currency does not have the same legal status as legal currency, and related business activities are illegal financial activities. This shows that in China, the trading and speculation of virtual currency are strictly restricted.

For individuals, if they participate in virtual currency transactions, they need to be aware of the risks. Although there is currently no law that it is illegal to hold or trade virtual currency, the state has clearly prohibited related trading services and activities. This means that if individuals participate in virtual currency transactions, they will not be supported and protected by the law. Therefore, investors need to bear all risks and possible losses on their own.

In general, there are risks in the virtual currency market, and investors need to be cautious. Before participating in transactions, you should fully understand the relevant laws and regulations, assess your risk tolerance, and do a good job of risk management. At the same time, you should also realize that although some countries are open to virtual currencies, there may be different legal and regulatory restrictions in your own country. Therefore, investors need to make wise investment decisions under the premise of legality and compliance.