It is reported in credible sources that China has not yet issued a new ban on cryptocurrencies in 2025. No formal declaration or legal development of crypto regulations has been done by the government. China still adheres to the policy implemented in September of 2021 that prohibits cryptocurrency trading, mining, and participation of financial institutions.
China’s Existing Crypto Policy (2021)
According to the crypto regulations issued in 2021, some cryptocurrency activities are still not allowed in mainland China. The following is still banned:
- Financial institutions are banned from engaging in any cryptocurrency-related services
- Crypto trading is banned in China
- Cryptocurrency mining is illegal in China
Despite the restrictions, individuals in China are still allowed to own cryptocurrencies. No new regulation in 2025 has changed this.
China Bans Cryptocurrency? No New Update Confirmed
False rumours shared through social media and crypto sites said that China is putting an outright ban on cryptocurrency by a new rule in the year 2025. The unverified information created temporary volatility in the market, major cryptocurrencies such as Bitcoin and Ethereum, had a drop in terms of fees in the market.
There has been no official response from Beijing. All major legal changes, especially when China bans crypto activities, are announced through official state-run media. No such announcement has been made to date.
While the current crypto ban in China continues, the government is working on its own central bank digital currency (CBDC). The planned yuan-backed stablecoin, or digital yuan (e-CNY), is different from traditional decentralised cryptocurrencies and will be fully regulated by the state.
It is also important to mention that Hong Kong operates under a separate regulatory system. Unlike the mainland where China bans cryptocurrency, Hong Kong has developed its own regulated cryptocurrency framework and is positioning itself as a digital finance hub in Asia.
Cryptocurrency is not legal in China for trading, financial services, or mining. As per the policy introduced in 2021 where China bans cryptocurrency activities, these services are considered illegal. However, owning crypto as an individual is not prohibited. As of 2025, there is no new China crypto ban policy confirmed or announced.
