#中国加密新规 In 2025, China's regulatory measures on cryptocurrencies will further tighten, fully banning private ownership and trading of crypto assets, aiming to promote the digital yuan (e-CNY) as the only legal digital currency. According to the latest policy, the ban implemented by the People's Bank of China starting from June 1 covers trading, mining, and personal ownership, emphasizing financial stability and national security. The Shanghai State-owned Assets Supervision and Administration Commission recently discussed strategic responses to stablecoins and digital assets, hinting that regulations may be relaxed in specific pilot areas. Meanwhile, the revised Anti-Money Laundering Law will include cryptocurrency-related transactions in regulation, filling the legal gap in controlling money laundering involving digital assets. In the future, compliant enterprises need to focus on blockchain technology innovation and the international application of the digital yuan to adapt to new opportunities under strict regulation.