Is China banning crypto for good? ONCE AGAIN

In case you missed it, China is enforcing stricter rules in crypto.

𝘛𝘩𝘦 𝘤𝘦𝘯𝘵𝘳𝘢𝘭 𝘣𝘢𝘯𝘬 𝘬𝘦𝘦𝘱𝘴 𝘩𝘢𝘷𝘦 𝘣𝘦𝘦𝘯 𝘳𝘦𝘱𝘦𝘢𝘵𝘪𝘯𝘨 𝘵𝘩𝘢𝘵 𝘤𝘳𝘺𝘱𝘵𝘰 𝘴𝘱𝘦𝘤𝘶𝘭𝘢𝘵𝘪𝘰𝘯 𝘪𝘴 𝘱𝘪𝘤𝘬𝘪𝘯𝘨 𝘶𝘱 𝘢𝘨𝘢𝘪𝘯, 𝘢𝘯𝘥 𝘵𝘩𝘦𝘺’𝘳𝘦 𝘯𝘰𝘵 𝘨𝘰𝘪𝘯𝘨 𝘵𝘰 𝘭𝘦𝘵 𝘪𝘵 𝘨𝘳𝘰𝘸.
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𝐄𝐟𝐟𝐞𝐜𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐮𝐥𝐞𝐬 𝐨𝐧 𝐒𝐭𝐚𝐛𝐥𝐞𝐜𝐨𝐢𝐧𝐬

The banks stressed that virtual currencies still have zero legal status in China, and anything tied to crypto whether it’s trading, payments or stablecoin services is considered illegal.

Stablecoins have become a major point of focus.

Regulators argue that these digital tokens, often pegged to the US dollar, fail to meet key requirements like:

➢ Proper customer identification
➢ Anti-money-laundering safeguards, and other compliance protocols.

Because of these gaps, stablecoins are seen as easy tools for money laundering, fraudulent fundraising, and unauthorized cross-border transfers.

This has led to previous enforcement actions, including the suspension of promotional events and educational seminars related to stablecoins.
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𝐖𝐡𝐨 𝐈𝐬 𝐀𝐟𝐟𝐞𝐜𝐭𝐞𝐝 𝐁𝐲 𝐓𝐡𝐞𝐬𝐞 𝐑𝐮𝐥𝐞𝐬

The control campaign had 13 agencies agreeing to enhance information sharing, improve monitoring capabilities, and identify individual users for potential penalties.

While earlier efforts mostly targeted exchanges and mining facilities, this new phase aims to reach the users themselves.

Looks like users will have less access to crypto in general.

Surprisingly, Bitcoin mining continues in China despite the nationwide ban. Recent data shows that the country still accounts for roughly 14% of global mining activity.

Mining persists in remote areas with cheap electricity and growing data-center infrastructure, showing that while trading and public activity are under strict control, underground operations are still ongoing.
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𝐂𝐞𝐧𝐭𝐫𝐚𝐥𝐢𝐳𝐞𝐝 𝐀𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐯𝐞𝐬

At the same time, China is pushing hard to grow adoption of the digital yuan.

The e-CNY already has tens of millions of users in pilot programs and is slowly being added to transportation systems, public services and even some cross-border trials.

The US, EU, Japan and others are building clearer frameworks for stablecoins and CBDCs, which is pushing investors toward more regulated digital assets.

𝘐𝘯 𝘤𝘭𝘰𝘴𝘪𝘯𝘨, 𝘊𝘩𝘪𝘯𝘢’𝘴 𝘴𝘵𝘳𝘪𝘤𝘵 𝘤𝘳𝘺𝘱𝘵𝘰 𝘳𝘶𝘭𝘦𝘴 𝘴𝘩𝘰𝘸 𝘪𝘵’𝘴 𝘴𝘦𝘳𝘪𝘰𝘶𝘴 𝘢𝘣𝘰𝘶𝘵 𝘤𝘰𝘯𝘵𝘳𝘰𝘭𝘭𝘪𝘯𝘨 𝘥𝘪𝘨𝘪𝘵𝘢𝘭 𝘢𝘴𝘴𝘦𝘵𝘴. 𝘏𝘰𝘸 𝘥𝘰 𝘺𝘰𝘶 𝘵𝘩𝘪𝘯𝘬 𝘵𝘩𝘪𝘴 𝘸𝘪𝘭𝘭 𝘢𝘧𝘧𝘦𝘤𝘵 𝘵𝘩𝘦 𝘤𝘳𝘺𝘱𝘵𝘰 𝘴𝘱𝘢𝘤𝘦?