Based on BitcoinSistemi, the People’s Bank of China (PBOC) reaffirmed its strict prohibition on cryptocurrencies during a coordination meeting on November 28, 2025. The PBOC emphasized that cryptocurrencies are not legal tender and all related activities are considered illicit financial activities. The bank also highlighted risks associated with stablecoins, including money laundering and fraud, due to insufficient KYC and AML compliance. Officials noted a recent rise in cryptocurrency speculation and illegal activities, despite the 2021 regulatory crackdown. The PBOC called for stronger monitoring and oversight to control financial risks.
PBOC Reiterates China's Ban on Cryptocurrencies, Warns of Illicit Activities
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