#USChinaTradeTalks

**China’s Cryptocurrency Market: Growth and Regulation**

China has played a major role in the global cryptocurrency market, once dominating Bitcoin mining and trading volume. However, in recent years, the Chinese government has taken strict measures against crypto activities. In 2021, it banned cryptocurrency mining and declared all crypto transactions illegal, citing financial risks and environmental concerns. Despite the ban, interest in blockchain technology remains strong. The government actively promotes its own digital currency—the digital yuan (e-CNY)—as a regulated alternative. While the public crypto market has moved underground or abroad, China continues to influence global crypto trends through policy decisions, technological development, and its role in blockchain innovation.