In #中国加密新规 2025, China's regulation of cryptocurrencies further tightened, completely banning private ownership and trading of crypto assets, aiming to promote the digital yuan (e-CNY) as the sole legal digital currency. According to the latest policy, the ban implemented by the People's Bank of China from 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, suggesting that regulation may loosen in specific pilot areas. Meanwhile, the revised Anti-Money Laundering Law includes crypto-related transactions in regulation, filling the legal gap in the prevention and control of 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.