#中国加密新规 Regulation In 2025, China's regulation of cryptocurrencies will further tighten, completely banning private ownership and trading of crypto assets, aimed at promoting the digital yuan (e-CNY) as the only legal digital currency. According to the latest policies, the ban implemented by the People's Bank of China starting June 1 covers trading, mining, and personal ownership, emphasizing financial stability and national security. The Shanghai State-owned Assets Supervision and Administration Commission recently discussed strategic responses to stablecoins and digital assets, suggesting that regulation may be relaxed in specific pilot areas. Meanwhile, the revised Anti-Money Laundering Law will bring crypto-related transactions under regulation, filling the legal gap in preventing money laundering related to digital assets. In the future, compliant enterprises will need to focus on blockchain technology innovation and the international application of the digital yuan to adapt to new opportunities under strict regulation.