#中国加密新规 China implements strict regulatory policies on cryptocurrency assets: prohibiting financial institutions from participating in cryptocurrency trading, banning ICOs (Initial Coin Offerings), and considering virtual currency-related activities as illegal financial activities. The central bank digital currency (digital yuan) is developed under state leadership, aiming to enhance payment efficiency and maintain financial stability. While individual ownership of cryptocurrencies is not explicitly prohibited, transactions are not protected by law, and risks are borne by the individuals. The policy emphasizes preventing financial risks, anti-money laundering, and capital controls to ensure the safety of the financial system.