#中国加密新规 China's New Cryptocurrency Regulations Overview: Assets Can Be Confiscated, Trading is Illegal, The Only Way for Compliant Public Chains to Survive

> **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 refined regulatory phase. On one hand, judicial authorities are tightening the crackdown on crimes related to cryptocurrencies; on the other hand, local judicial bodies have, for the first time, **explicitly recognized the 'property attributes' of virtual currencies** in legislative documents. This contradictory situation reflects the regulatory body's dual attitude towards the value of blockchain technology and financial risks. The current regulatory framework and response strategies will be analyzed from four dimensions.

---

### 1. New Judicial Opinions: Tightening the 'Tightening Spell' 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 Assistance in Information Network Crime,' which for the first time includes cryptocurrency trading in the network crime regulatory system:

- **Standardization of 'Knowledge' Determination**: If a user continues to engage in cryptocurrency trading after being restricted by a bank due to fraud involvement, and the funds are again suspicious, it can be directly presumed that they subjectively 'know' about the crime and will be prosecuted for assisting in information network crime.