On May 30, 2025, the Chinese government announced a comprehensive ban that includes the possession of cryptocurrencies, including $BTC in addition to the previous ban on mining and trading. This decision represents an escalation in Beijing's policy towards digital currencies, aiming to enhance financial control and encourage the use of state-backed digital yuan.
The news led to an immediate decline in cryptocurrency prices, with the value of (#BTC ) significantly dropping, while alternative coins experienced sharp volatility. However, some analysts believe that this decline may be temporary, with the potential for the market to recover in the near future.
Despite these restrictions, Chinese investors continue to use alternative methods to access global markets, such as trading on offshore platforms and using virtual private networks (#VPNs ).
In contrast, Hong Kong continues to bolster its position as a regional hub for cryptocurrencies, raising questions about the possibility of China reassessing its strict stance in the future.
