#中国加密新规 2025, in 2023, China further tightened regulations on cryptocurrencies, fully prohibiting private possession 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 People's Bank implemented a ban starting June 1, covering trading, mining, and personal possession, emphasizing financial stability and national security. The Shanghai State-owned Assets Supervision and Administration Commission recently discussed strategic responses to stablecoins and digital assets, suggesting that regulations may be relaxed in specific pilot areas. Meanwhile, the revised Anti-Money Laundering Law includes crypto-related transactions under regulation, filling the legal gap in anti-money laundering for digital assets. In the future, compliant enterprises need to focus on blockchain technology innovation and the internationalization of the digital yuan to adapt to new opportunities under stringent regulations.