Is This Currency From China Or An Emblem?

It's a token/ medal. I can't read the inscription, though.

As Oriole said, it is a medal or charm, rather than a coin for use as money.

The inscription on the obverse (top pic) is "dong nan xi bei", which are the four cardinal directions (east, south, west, north, in their "correct" compass orientation but with east at the top).

The bottom pic is a little bit too unclear for me to attempt a translation.

I use various sources; Google Translate, and a Chinese dictionary: https://www.zhongwen.com/s/bushou.htm

It helped in this case that many of those characters on the obverse are used in Chinese province-names (many Chinese provinces have geography-derived names), and so are familiar to me from their appearance on regular Chinese coins. Specifically, "dong" (east) is part of the name for Guangdong province. Once I saw the in the dictionary that "dong bei" was Chinese for "Northeast", and saw that "bei" was to the "north" of Dong on your medal, I wondered if it was a cardinal-directions thing, and went from there.

Unfortunately, the script used in the reverse of the medal is a somewhat obscure one, a form of seal script popular on medals in the early 1900s but rarely seen in Asia these days. Regular Chinese readers can struggle with it; my methods don't help much at all.

I think it's Japanese, not Chinese. It looks like it says Suifen River on the year side. This river is on the border between China and Russia, which at that time was the scene of conflict between Japanese controlled Manchuria and the Soviet Union. I might be totally wrong, but it might be best to ask a Japanese speaker who can read older kanji system.

There's also a town called Suifenhe, which just means Suifen River.