In #中国加密新规 2025, China continued to strictly control the cryptocurrency market. Regulatory agencies have requested brokerages and think tanks to stop publishing and promoting research reports and seminars on stablecoins to curb the risks of digital asset speculation. Meanwhile, the Shanghai State-owned Assets Supervision and Administration Commission held relevant meetings to discuss policy responses to stablecoins and digital currencies. Some companies (such as JD.com and Ant Group) are actively promoting the issuance of RMB-pegged stablecoins and plan to apply for licenses in Hong Kong. In addition, the newly revised anti-money laundering law at the national level will be implemented starting January 1, 2025, requiring banks, payment institutions, and others to strengthen monitoring and reporting of cross-border and large transactions involving virtual currencies. Overall, China adheres to the principle of 'keeping the chain while removing the currency', using technical blockades and strict regulatory measures to prevent capital outflow and financial risks.