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China Tightens Its Grip on Cryptocurrencies with New Ban and Global Impacts on the Cryptocurrency Market.
On May 30, 2025, the Chinese government announced a comprehensive ban that includes the possession of cryptocurrencies, including $BTC in addition to the previous ban on mining and trading. This decision represents an escalation in Beijing's policy towards digital currencies, aiming to enhance financial control and encourage the use of state-backed digital yuan.
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