Following the link you provide, I note that China has banned the use of virtual currency for the purchase of real goods, as you report, but that it also restricts the use of virtual currency to virtual goods provided by the issuer of the currency, and thus Bitcoin is effectively banned in China.  You suggest that the definition of a virtual currency includes that it is backed by one issuer that can provide goods and services and that it is pegged to a specific exchange rate.  Do you have a reference for that definition as a general rule, or are referring to China only and extrapolating from the link?

Thanks!

The virtual currency, which is converted into real money at a certain exchange rate, will only be allowed to trade in virtual goods and services provided by its issuer, not real goods and services.