China will not open the cryptocurrency trading market in the short term; policy tone is clear

According to industry observers, it is unlikely that China will restart its opening to the cryptocurrency market anytime soon. Multiple policies and regulatory signs indicate that the official stance on virtual assets remains one of 'strict regulation and zero tolerance'.

Since 2017, China has completely banned ICOs and domestic virtual currency trading platforms. In 2021, the central bank reiterated with multiple ministries that virtual currency-related activities are considered illegal financial activities. The core of the current policy tone remains focused on preventing financial risks and stabilizing economic order.

In terms of financial security, cryptocurrencies, due to their anonymity and decentralized characteristics, can easily be used for cross-border money laundering and capital flight, challenging capital controls and monetary sovereignty. At the same time, with the rapid advancement of the digital yuan, China is more inclined to promote a controllable national-level digital currency system.

Moreover, the Chinese government consistently distinguishes between 'blockchain technology' and 'cryptocurrency speculation', supporting the development of industry alliance chains while clearly cracking down on speculative behaviors centered around cryptocurrencies.

In the current complex international situation and financial governance framework, experts generally believe that China will continue to maintain a strong regulatory stance and will not have the policy space to fully restart virtual currency trading in the short term.