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China Reaffirms Crypto Ban Amid Speculation Risks

China Reaffirms Crypto Ban Amid Speculation Risks

Author:

Global Cryptocurrency

Published:

2025-12-01 17:48:02

23

1

BTCCSquare news:

China's central bank has reinforced its prohibition on cryptocurrencies, citing financial instability risks. The November 28 meeting of 13 government agencies emphasized the illegal status of crypto assets since 2021, targeting speculation and capital flight.

Stablecoins faced particular scrutiny for circumventing capital controls. Despite the crackdown, China remains paradoxically engaged in crypto ecosystems, evidenced by $3.2 million in Hong Kong-related crypto donations.

The policy stance may pressure Bitcoin prices, recalling China's former dominance in mining. Regulatory actions focus on money laundering prevention while acknowledging the persistent underground market activity.

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