In accordance with CoinPaper, China's central bank has announced stricter enforcement measures against cryptocurrency trading and stablecoins, following a detected surge in digital asset activity. The People's Bank of China (PBoC) reiterated that cryptocurrencies remain illegal in the country and cannot be used as legal tender. A high-level meeting involving 13 government agencies emphasized concerns over speculative trading and stablecoin-related risks, including money laundering and unauthorized cross-border transactions. Authorities have also identified continued bitcoin mining activity in China, with the country accounting for approximately 14% of global mining as of October 2025.
China Intensifies Crypto Crackdown, Focuses on Stablecoins and Mining
CoinpaperShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.