đ„ BREAKING: Chinaâs Central Bank Declares Crypto Not Legal Tender, Tightens Crackdown đšđł
The Peopleâs Bank of China (PBoC) has officially issued a regulatory notice stating that:
â ïž Virtual currencies are not legal tender in China and
â ïž Activities related to cryptocurrencies are illegal â reinforcing decades-long policy, and
đš Crypto mining will continue to be cracked down on across the country.
This latest notice is one of the strongest regulatory signals yet from Chinese authorities against decentralized digital assets.
đ What the Notice Says:
âą Virtual currencies (e.g., Bitcoin, Ethereum, stablecoins, NFTs) are not recognized as money under Chinese law.
âą Trading, transfer, exchange, and related services for decentralized digital assets remain prohibited unless specifically authorized.
âą The PBoC reiterates that crypto mining is not welcome â continuing enforcement actions and penalties where necessary.
đ Why This Matters:
đšđł Chinaâs regulatory stance remains extremely strict:
âą Cryptocurrency is treated as unregulated financial risk, not fiat money.
âą Activities like custody, trading, issuance, and token services are not sanctioned.
âą This builds on previous bans and reinforces zero tolerance toward decentralized crypto.
đ Global Crypto Context:
âą This notice doesnât directly affect crypto legality outside China â itâs a sovereign policy for Chinese jurisdiction.
âą Global markets (BTC, ETH, DeFi, and institutional products) are largely governed by local laws in their own countries.
âą Traders and builders in global markets should *monitor how this impacts capital flows *and on-chain behavior, but not overreact to jurisdiction-specific policy.
đŹ Viral + Balanced Caption:
Chinaâs central bank says âcrypto â money,â and doubles down on mining bans â tough stance, but global crypto still builds. đȘđȘ
Regulation vs innovation â the game continues. đ
#CryptoRegulation #China #BTC #ETH #PBoC $BTC
