Based on Coincu, on November 28, 2025, the People’s Bank of China (PBOC) coordinated with 13 government departments to reinforce cryptocurrency governance. Stablecoins are now a primary focus due to concerns over laundering, fraud, and cross-border flows. PBOC Governor Pan Gongsheng emphasized continuous crackdowns on crypto trading and reiterated that virtual currencies do not hold the same legal status as fiat currency. The move marks a shift toward legal and comprehensive enforcement, with a focus on information and capital flow monitoring. Bitcoin dropped 8.05% in the past 24 hours as of December 1, 2025, according to CoinMarketCap.
China Intensifies Crypto Crackdown with System-Wide Governance
CoincuShare
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.