China has reaffirmed its ban on cryptocurrency trading, including Bitcoin, and has extended restrictions to stablecoins and tokenized real-world assets. The People's Bank of China (PBoC) has warned against illicit fundraising and money laundering linked to virtual currencies, and social media platforms are being shut down for promoting crypto trading . #Write2Earn!
China has prohibited individual ownership of digital assets, including Bitcoin, and has imposed strict controls on tokenization and stablecoin issuance.
Offshore yuan stablecoins are allowed only with government approval, and domestic entities are barred from issuing virtual currencies overseas.
Authorities have arrested individuals involved in unlicensed crypto activities, and penalties for crypto-related crimes have surged 3,000%.
Digital Yuan Expansion : China's central bank digital currency, e-CNY, has processed 14.2 trillion yuan in transactions, with 225 million personal wallets opened . @CZ @Binance Customer Support @BNB Chain
The ban has led to market volatility, with Bitcoin and altcoins experiencing sharp price drops. However, analysts believe the downturn may be short-lived .
