#中国加密新规 China's New Cryptocurrency Regulations Overview: Property Can Be Confiscated, Transactions Are Illegal, The Only Compliance Path for Public Blockchains
> **Judicial Red Lines and Compliance Islands Coexist**, China's cryptocurrency ecosystem seeks a fragile balance under high-pressure regulation
In the second half of 2025, China's cryptocurrency policy will enter a phase of refined regulation. On one hand, judicial authorities tighten the crackdown on cryptocurrency-related crimes; on the other hand, local judicial bodies explicitly **recognize the 'property attributes' of virtual currencies** for the first time in legislative documents. This contradictory situation reflects the regulatory body's dual attitude toward the value of blockchain technology and financial risks. The current regulatory framework and response strategies will be analyzed from four dimensions.
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### 1. New Judicial Opinions: Tightening the Noose on Cryptocurrency Trading
On July 28, 2025, the Supreme People's Court, the Supreme People's Procuratorate, and the Ministry of Public Security jointly issued the 'Opinions on Issues Related to Handling Criminal Cases Involving Assisting Information Network Criminal Activities', which for the first time incorporates cryptocurrency trading into the network crime regulation system:
- **Standardization of 'Knowledge' Determination**: If a user continues to engage in cryptocurrency trading after being restricted by a bank due to fraud allegations, and if the funds are again suspicious, it can be directly presumed that they subjectively 'know' about the crime, and they will be prosecuted for aiding information network criminal activities.
- **List of Abnormal Transactions**: Transactions using encrypted communication software, or buying and selling cryptocurrencies at prices significantly deviating from market rates, are categorized as 'abnormal situations' for judicial monitoring.
- **Strict Sentencing Orientation**: Organizing minors to participate in cryptocurrency money laundering or cross-border transfer of illicit funds will face severe penalties, with the number of related prosecutions rising by 42% year-on-year in 2024.
This new regulation means that ordinary investors' OTC transactions may also bear criminal liability due to polluted funding routes.
