#中国加密新规 China's cryptocurrency regulation remains under high pressure, and the digital yuan is accelerating its promotion

By 2025, China will maintain a strict ban on cryptocurrencies, prohibiting trading, mining, and payment usage. The policy focus is shifting to the digital yuan (e-CNY), with pilot transaction volumes exceeding 7.3 trillion yuan, and exploring scenarios such as cross-border payments. Hong Kong has become a partially open experimental zone, allowing licensed exchanges to serve retail investors. Companies need to pay attention to compliance risks, and on the technical side, blockchain application in physical fields such as supply chains is encouraged.