On May 31, 2025, China stunned global markets by banning all cryptocurrency activity — including trading, mining, and even personal ownership of assets like Bitcoin (BTC) and Ethereum (ETH).
This sweeping crackdown builds on past restrictions and marks a major push toward full financial centralization under China's digital yuan (CBDC).
📉 Market Fallout: Swift & Brutal
Bitcoin (BTC): Tumbled from ~$111,000 to ~$104,500
Ethereum (ETH): Also took a double-digit hit
Major mining operations across Inner Mongolia and Sichuan immediately halted
Crypto exchanges servicing Chinese users began blocking access, while wallets flagged as operating within China were frozen or geo-blocked by several platforms.
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🎯 What It Means:
Global investors are scrambling to assess exposure
Decentralization advocates call this a major inflection point
Speculation grows: Could more authoritarian governments follow suit?
📌 TL;DR:
> China just banned crypto — completely. Markets are crashing, and the future of global digital assets just got a lot more complicated.
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Optional Graphic Headline:
> "China Bans Bitcoin: $500 Billion Wipeout Begins"
