{"id":53981,"date":"2025-12-05T13:47:30","date_gmt":"2025-12-05T13:47:30","guid":{"rendered":"https:\/\/crypto-globe.com\/?p=53981"},"modified":"2025-12-05T13:51:04","modified_gmt":"2025-12-05T13:51:04","slug":"china-reaffirms-ban-on-cryptocurrencies-and-warns-against-stablecoins","status":"publish","type":"post","link":"https:\/\/crypto-globe.com\/en\/china-reaffirms-ban-on-cryptocurrencies-and-warns-against-stablecoins\/","title":{"rendered":"China reaffirms ban on cryptocurrencies and warns against stablecoins"},"content":{"rendered":"\n

The Chinese central bank has reiterated that trading in cryptocurrencies is completely banned in the country. The regulator warned that speculation in virtual currencies is returning after years, posing new challenges for financial risk management. All business related to cryptocurrencies therefore continues to fall under the category of illegal activities.<\/strong><\/p>\n\n\n\n

Cryptocurrencies and stablecoins in China pose a threat to financial stability<\/h2>\n\n\n\n

The central bank emphasized that cryptocurrencies<\/a> have no legal status in China, do not serve as legal tender, and should not be used as currency in the market. According to the authorities, virtual currencies are a source of speculation and can threaten the stability of the financial system.<\/p>\n\n\n\n

The authorities paid particular attention to stablecoins. According to the central bank<\/a>, they do not meet customer identification standards or anti-money laundering rules and can be used for fraudulent campaigns, money laundering, or illegal cross-border transfers.<\/p>\n\n\n\n

China tightens supervision of cryptocurrencies<\/h2>\n\n\n\n

The state plans to strengthen supervision of cryptocurrency users<\/strong>. Thirteen participating agencies have agreed to intensify cooperation, information sharing. And monitoring so that they can effectively intervene against suspicious activities. Nevertheless, China<\/a> remains the third-largest player in global bitcoin mining, with a share of about 20%.<\/p>\n\n\n\n

While Hong Kong opened the door to licensing stablecoin issuers this year, Chinese authorities remain uncompromising. Regulators are cracking down on projects and warning that cryptocurrencies and stablecoins<\/a> are still out of favor and that any market recovery will be harshly suppressed.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Chinese central bank has reiterated that trading in cryptocurrencies is completely banned in the country. The regulator warned that speculation in virtual currencies is returning after years, posing new challenges for financial risk management. All business related to cryptocurrencies therefore continues to fall under the category of illegal activities. Cryptocurrencies and stablecoins in China […]<\/p>\n","protected":false},"author":2,"featured_media":53973,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[162],"tags":[99,93],"class_list":["post-53981","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","tag-bitcoin-en","tag-cryptocurrencies"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t