China Enacts Fresh Crypto Crackdown
Analysis
Price Impact
HighChina's comprehensive new mandate, involving multiple government ministries, declares all virtual currency-related business activities illegal. this reiterates and intensifies the country's hostile stance, likely triggering significant negative market sentiment.
Trustworthiness
HighThe report cites official notices from the people's bank of china (pboc), national development and reform commission (ndrc), ministry of public security, and china securities regulatory commission (csrc) via a major beijing-based publication, sina.
Price Direction
BearishThe explicit prohibition of all crypto-related business, including trading, mining, and even overseas issuance by domestic entities, creates a highly unfavorable regulatory environment. this will likely lead to fear, uncertainty, and doubt (fud) across the market, potentially causing sell-offs.
Time Effect
ShortWhile china's anti-crypto stance has been consistent and long-term, this particular re-affirmation and tightening may cause an immediate, fud-driven market correction. however, the market has largely adapted to china's absence over time, so the lasting new impact beyond an initial reaction might be contained.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News Further crackdown on mining China's numerous bans Advertisement The People's Bank of China (PBOC) has issued a comprehensive new mandate aimed at stamping out the evolving risks in the digital asset sector alongside seven other powerful government ministries, Sina, a major Beijing-based publication, reports. The notice, titled "Notice on Further Preventing and Disposing of Risks Related to Virtual Currencies," was released jointly by the PBOC, the National Development and Reform Commission (NDRC), the Ministry of Public Security, and the China Securities Regulatory Commission (CSRC), among others. It established that conducting virtual currency-related business activities within China constitutes illegal financial activity and is strictly prohibited. It also established a coordination mechanism for cracking down on the hype of virtual currency trading to continuously clean up and rectify the chaos in virtual currencies. HOT Stories Morning Crypto Report: One of Biggest XRP Sellers Revealed, -80% for Cardano (ADA): Founder Admits $3 Billion Loss, Binance Delists 20 Pairs After $2.6 Billion Liquidation Tsunami: Bitcoin Affected Too 'Be Greedy': Ripple CEO Reacts to XRP Price Crash You Might Also Like Tue, 09/23/2025 - 20:20 No, China Is Not Embracing Crypto By Alex Dovbnya Advertisement The notice explicitly states that "domestic entities and the offshore entities they control" are prohibited from issuing virtual currencies overseas without explicit approval from relevant authorities. It emphasizes that no unit or individual, domestic or foreign, may issue stablecoins pegged to the Renminbi overseas without approval from relevant departments. Further crackdown on mining The notice reiterates the prohibitive policy on virtual currency "mining" within China. The National Development and Reform Commission will lead the strict control of virtual currency "mining" activities. Advertisement China's numerous bans Since 2013, China has issued numerous decrees restricting digital assets, each one framed as the final nail in the coffin. In 2017, the world's second-largest economy banned crypto exchanges, causing a massive crash. In 2021, China banned crypto mining, forcing the "Great Migration" of hashrate to the U.S. In early December 2025, the PBOC released a statement vowing to intensify its crackdown on "virtual currencies," specifically targeting stablecoins. #Crypto Regulation #Cryptocurrency ban