Derived from CoinEdition, the People’s Bank of China (PBOC) held a meeting on November 28, 2025, with 13 government departments to reaffirm its stance against virtual currency trading and illegal stablecoin use. Officials reiterated that virtual currencies lack legal tender status and cannot be used in market transactions, while stablecoins were highlighted for risks including money laundering and illegal fund transfers. The meeting emphasized continued enforcement against crypto speculation and illegal financial activities.
China's PBOC Reaffirms Crackdown on Crypto Trading and Stablecoin Risks
CoinEditionShare
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.