#中国加密新规 China's New Cryptocurrency Regulations Overview: Property Can Be Confiscated, Trading is Illegal, The Survival Path of the Only Compliant Public Chain

> **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 stage of refined regulation. On one hand, judicial departments are tightening the crackdown on cryptocurrency-related crimes; on the other hand, local judicial authorities have for the first time **explicitly acknowledged the 'property attributes' of virtual currencies** in legislative documents. This contradictory situation reflects the regulatory authorities' dual attitude towards the value of blockchain technology and financial risks. The following analyzes the current regulatory framework and response strategies from four dimensions.

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