Is it illegal to reject RMB?

It is illegal to refuse to accept RMB. As the legal tender of our country, RMB has compulsory circulation, and no unit or individual may refuse it. Rejecting RMB not only infringes on the legitimate rights and interests of consumers, but also damages the legal status of RMB.

I. Legal status of RMB

RMB is the legal tender of our country, which has compulsory circulation. This means that in China, all transactions, settlements and payments must be made in RMB. No unit or individual may refuse to accept RMB payment for any reason. This is an important measure to protect consumers' rights and interests and maintain economic order.

Second, the legal consequences of rejecting RMB

Rejecting RMB is illegal and will be punished by law. According to the relevant provisions of the Regulations on the Administration of Renminbi in People's Republic of China (PRC), the relevant departments have the right to impose penalties, including warnings and fines, for refusing to accept Renminbi. At the same time, the rejection of RMB may also lead to the infringement of consumers' rights and interests, and consumers can safeguard their legitimate rights and interests through legal channels.

Third, measures to ensure the circulation of RMB.

In order to ensure the circulation of RMB, our government has taken a series of measures. First of all, the supervision and management of RMB have been strengthened to ensure the stable supply and circulation of RMB. Secondly, the crackdown on the rejection of RMB has been intensified, and the illegal cost has been raised. In addition, it has strengthened the public's awareness and trust in the RMB, and improved the utilization rate and circulation speed of the RMB.

To sum up:

It is illegal to refuse RMB, and no unit or individual may refuse RMB payment. In order to protect the circulation of RMB and the legitimate rights and interests of consumers, our government has taken a series of measures to intensify the crackdown on the rejection of RMB. We should actively support the circulation of RMB and safeguard economic order and consumer rights and interests.

Legal basis:

Regulations of People's Republic of China (PRC) Municipality on the Administration of RMB

Article 3 provides that:

The legal tender in People's Republic of China (PRC) is RMB. No unit or individual may refuse to repay all public and private debts in People's Republic of China (PRC) in RMB.

Regulations of People's Republic of China (PRC) Municipality on the Administration of RMB

Article 26 provides that:

It is forbidden to manufacture and sell coupons. Because there is no clear judicial interpretation of the definition of token, if Bitcoin is included in the "token", the legal prospect of Bitcoin in China will be uncertain.