China Tightens Crypto Rules Amid Growing Global Bitcoin Speculation
02.01.2025 12:00 1 min. read Kosta Gushterov
China has implemented new foreign exchange regulations aimed at curbing crypto-related financial activities, requiring banks to monitor and report transactions linked to cross-border gambling, underground banking, and illicit digital asset trading.
These measures, which include tracking individuals’ funding sources and transaction patterns, are designed to tighten access to cryptocurrencies.
Legal experts note that the new rules further restrict crypto use, classifying yuan-to-crypto purchases as potential cross-border violations.
This builds on China’s 2019 ban on crypto transactions, justified by concerns over financial risk and environmental impact.
Despite its anti-crypto stance, China holds approximately 194,000 BTC, worth over $18 billion, mostly acquired through asset seizures.
Former Binance CEO Changpeng “CZ” Zhao speculates that China could eventually adopt a Bitcoin reserve strategy, noting the country’s ability to enact rapid policy shifts.
However, for now, China remains firmly opposed to crypto trading and ownership.
-
1
CFTC Eases Crypto Derivatives Regulations, Aligning Digital Assets with Traditional Finance
31.03.2025 9:00 2 min. read -
2
Japan Moves to Classify Crypto as Financial Products, Eyes New Trading Rules
31.03.2025 11:00 1 min. read -
3
EU Regulators Push for Stricter Capital Rules on Crypto-Holding Insurers
29.03.2025 16:00 1 min. read -
4
SEC’s Crypto Task Force to Hold Key Meeting with Industry Leaders
08.04.2025 14:00 2 min. read -
5
CFPB’s Role in Crypto Regulation Diminishes as Trump Administration Shifts Focus
07.04.2025 13:00 2 min. read
Fed Chair Teases Looser Crypto Rules as Washington Eyes Stablecoin Bill
Federal Reserve Chair Jerome Powell has hinted that U.S. banks may soon see more flexibility when it comes to handling digital assets—a notable shift from the cautious approach regulators have maintained in recent years.
U.S. Senator Pushes New Bill to Curb Corporate Influence in Government Advisory Roles
Concerns over unchecked influence in Washington have prompted a new legislative push to tighten ethics rules for part-time federal advisors with ties to powerful corporations.
New York Considers Allowing Bitcoin and Ethereum for State Payments
New York may soon allow residents to use digital assets like Bitcoin and Ethereum to pay for services tied to the state.
Japan Proposes Two-Tier Crypto Framework in Push for Smarter Regulation
Japan is preparing to reshape its crypto regulations with a fresh proposal that would divide digital assets into two distinct categories—one for business-backed tokens and another for decentralized cryptocurrencies like Bitcoin.
-
1
CFTC Eases Crypto Derivatives Regulations, Aligning Digital Assets with Traditional Finance
31.03.2025 9:00 2 min. read -
2
Japan Moves to Classify Crypto as Financial Products, Eyes New Trading Rules
31.03.2025 11:00 1 min. read -
3
EU Regulators Push for Stricter Capital Rules on Crypto-Holding Insurers
29.03.2025 16:00 1 min. read -
4
SEC’s Crypto Task Force to Hold Key Meeting with Industry Leaders
08.04.2025 14:00 2 min. read -
5
CFPB’s Role in Crypto Regulation Diminishes as Trump Administration Shifts Focus
07.04.2025 13:00 2 min. read
