🚨 China Declares Crypto Ownership Illegal — A Historic Move! 🔒🔥
🗓️ Announcement: For the first time ever, China has officially criminalized the ownership of cryptocurrencies — not just trading or mining. This marks a major shift in its regulatory stance.
🧩 What’s Happening?
China now considers holding cryptocurrency a punishable offense — previously only mining and trading were banned.
This change follows a court ruling in which digital assets were not recognized as legally protected property.
Legal experts confirm that crypto ownership now has no legal protection, and assets may be confiscated.
❗ Why This Is a Big Deal
Since 2021, China had outlawed crypto mining and exchange services, but individuals could still technically hold assets.
This new stance erases that grey area — even passive holders are now under legal threat.
Millions of Chinese citizens who were storing assets off-exchange or using VPNs to access platforms may now face criminal charges or seizures.
🔍 Fact Check:
Chinese courts had previously ruled that cryptocurrencies like Bitcoin and Ethereum are “virtual property” and deserve protection under civil law.
But in this case, the court clarified: crypto assets “should not enjoy legal protections” due to their **illegal origin and use.”
Legal scholars warn this could trigger massive state seizures of privately held assets.
🌐 Global Implications:
This ruling sets a new global precedent: a major superpower banning even passive crypto ownership.
Crypto exchanges may need to reassess compliance risks for Chinese nationals.
It also raises concerns about the future of decentralized assets under authoritarian regimes.
🚨 What You Should Do:
If you're a crypto user in or near jurisdictions like China, reassess your risk exposure
Use decentralized wallets cautiously and avoid on-chain activity linked to Chinese IPs
Stay updated on exchange policies regarding KYC/AML linked to high-risk regions