๐จ #BREAKING: China ๐จ๐ณ Cracks Down Harder on Crypto
China has reaffirmed and expanded its nationwide ban on cryptocurrency mining, trading, and all crypto-related services โ and reports now suggest it may even be criminalizing private ownership of digital assets inside the country.
๐งจ Key points:
All crypto trading, mining, and platform services were officially banned since 2021
In MayโJune 2025, rumors say China extended the ban to include holding crypto, though no public legal document has been released
The move aligns with Beijingโs push for e-CNY (digital yuan) dominance and tight capital control
๐ Market Reaction:
BTC and ETH saw short-term dips amid uncertainty
OTC desks and VPN-based retail usage expected to decline further
Signals a deeper divide between open DeFi ecosystems and centralized CBDC regimes
๐ Why it matters:
Another clear signal that China is doubling down on anti-crypto policy
Reinforces the narrative of crypto as a hedge against state-controlled finance
Raises new questions: is holding Bitcoin in China now illegal? Still no official answer.
๐ Crypto stays borderless โ but China wants out.
