CoinVoice has recently learned that Lawyer Liu Yang stated that in the future, China may implement a licensing system for certain virtual currency businesses, such as the exchange of fiat currency for virtual currency.
Considering the current judicial situation, it is possible that relevant departments will be authorized to engage in the exchange from virtual currency to fiat currency, and it is highly likely to be one-way, rather than free exchange; however, the buying and selling of virtual currency is difficult to liberalize, and issuing coins and mining cannot be liberalized at this stage. [Original link]