Yes, it’s official: China has completelybanned all crypto trading and mining—and they’re not bluffing. This crackdown is strict, widespread, and actively enforced.
🧱 What’s Banned?
🔒 Crypto Trading – Illegal since Sept 2021
Buying & selling crypto
Operating exchanges
Even using foreign platforms via VPNs
Financial institutions are barred from offering any crypto-related services.
⚒️ Crypto Mining – Shut down nationwide in mid-2021
Reason?
➤ Huge energy consumption
➤ Environmental impact
➤ Financial instability concerns
➤ Capital control ambitions
Major mining provinces like Inner Mongolia and Sichuan were forced offline, pushing miners abroad to the U.S., Kazakhstan, etc.
❓Why the Hard Stance?
🔹 Crypto threatens China’s control over capital
🔹 The country is launching its own digital currency (e-CNY)
🔹 They want energy efficiency and financial stability
🔍 What’s Going On Now?
Some still try to access crypto through VPNs—but China’s cracking down harder on everything, from platforms to influencers.
⚠️ TL;DR:
China has firmly closed the door on private crypto—for now. But in global finance? Nothing’s ever truly final. 👀
Yes, it’s official: China has completely banned all crypto trading and mining—and they’re not bluffing. This crackdown is strict, widespread, and actively enforced.
🧱 What’s Banned?
🔒 Crypto Trading – Illegal since Sept 2021
Buying & selling crypto
Operating exchanges
Even using foreign platforms via VPNs
Financial institutions are barred from offering any crypto-related services.
⚒️ Crypto Mining – Shut down nationwide in mid-2021
Reason?
➤ Huge energy consumption
➤ Environmental impact
➤ Financial instability concerns
➤ Capital control ambitions
Major mining provinces like Inner Mongolia and Sichuan were forced offline, pushing miners abroad to the U.S., Kazakhstan, etc.
❓Why the Hard Stance?
🔹 Crypto threatens China’s control over capital
🔹 The country is launching its own digital currency (e-CNY)
🔹 They want energy efficiency and financial stability
🔍 What’s Going On Now?
Some still try to access crypto through VPNs—but China’s cracking down harder on everything, from platforms to influencers.
⚠️ TL;DR:
China has firmly closed the door on private crypto—for now. But in global finan
ce? Nothing’s ever truly final. 👀