Total Ban on Cryptocurrencies in China – Here is the Truth 🇨🇳🛑
Yes, it's official: China has completely banned all cryptocurrency trading and mining—and they are not bluffing. This crackdown is strict, widespread, and actively enforced.
🧱 What is banned?
🔒 Cryptocurrency trading – Illegal since September 2021
Buying and selling of cryptocurrencies
Operational exchanges
Even using foreign platforms through VPNs
Financial institutions are banned from offering any services related to cryptocurrencies.
⚒️ Cryptocurrency mining – Shut down nationwide in mid-2021
Reason?
➤ High energy consumption
➤ Environmental impact
➤ Concerns about financial instability
➤ Ambitions for capital control
Major mining provinces such as Inner Mongolia and Sichuan were forced to shut down, pushing miners abroad to the U.S., Kazakhstan, etc.
❓ Why the tough stance?
🔹 Cryptocurrencies threaten China's control over capital
🔹 The country is launching its own digital currency (e-CNY)
🔹 They want energy efficiency and financial stability
🔍 What is happening now?
Some are still trying to access cryptocurrencies through VPNs—but China is ramping up its crackdown on everything from platforms to influencers.
⚠️ Summary:
China has firmly closed the door to private cryptocurrencies—for now. But in global finance? Nothing is really definitive. 👀
Yes, it's official: China has completely banned all cryptocurrency trading and mining—and they are not bluffing. This crackdown is strict, widespread, and actively enforced.
🧱 What is banned?
🔒 Cryptocurrency trading – Illegal since September 2021
Buying and selling of cryptocurrencies
Operational exchanges
Even using foreign platforms through VPNs
Financial institutions are banned from offering any services related to cryptocurrencies.
