China's CBIRC Holds Meeting to Reinforce Crackdown on Virtual Currency Speculation

Jinse

Release Time:12/20/2025 12:01:46

USDT

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On November 28, 2025, China's CBIRC held a meeting with 12 departments to reinforce the crackdown on virtual currency speculation and Countering the Financing of Terrorism. The meeting reaffirmed that all crypto-related business activities are illegal and emphasized high-pressure enforcement. The next day, a 'Criminal Law + Web3' forum in Zhengzhou discussed regulatory trends and criminal risks, aligning with policy signals. The crackdown aligns with the 2021 notice against virtual currency trading risks, with judicial departments now more involved. Enforcement is strengthening as new trends like RWA and PayFi emerge, with closer monitoring of stablecoins like USDT. As risk-on assets face tighter scrutiny, the regulatory environment is expected to grow more severe.

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