Poland Becomes Sole EU MiCA Holdout After Parliament Fails to Overturn Veto
Crypto21:06
CZ Emphasizes Strict Private Key Isolation for Hardware Wallets
Macro21:06
US Small Business Bankruptcies Surge to Records as Inflation Persists
Gov
Chinese Regulators Reaffirm Crypto Ban with Focus on Stablecoins
12/01/2025, 07:36
AI SUMMARY
●PBOC reaffirms 2021 ban on virtual currency trading activities.
●Regulators focus on stablecoin-related illegal FX and money laundering.
●Legal experts view this as enforcement of existing rules, not a policy change.
The People's Bank of China (PBOC) and other departments recently held a coordination meeting to address virtual currency trading hype, reaffirming the strict ban policies established in September 2021. The meeting emphasized a crackdown on illegal activities involving virtual currencies.
Legal interpretations of the meeting suggest the regulators are specifically targeting illegal foreign exchange and money laundering activities facilitated by stablecoins. Experts clarify that this represents the enforcement of existing prohibitions rather than a new shift in policy direction.