In #中国加密新规 2025, China's regulation of cryptocurrency tightened further, fully banning private holdings 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 June 1 covers trading, mining, and personal holdings, 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 regulation may be relaxed in specific pilot areas. Meanwhile, the revised Anti-Money Laundering Law will include 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 international application of the digital yuan to adapt to new opportunities under strict regulation.