Chinese financial authorities have reinforced their stringent prohibition on all cryptocurrency-related operations, declaring such activities illegal and a threat to financial stability. In a high-level interagency meeting held on November 28, 2025, the People’s Bank of China led discussions with officials from the Ministry of Public Security, the Cyberspace Administration, and other key regulatory bodies. The assembly focused on curbing the recent uptick in virtual currency transactions and speculative trading. Regulators highlighted the persistent risks these unregulated assets pose to the nation’s economic order and capital controls. The coordinated effort underscores a continued nationwide crackdown, targeting platforms and channels facilitating crypto and stablecoin exchanges. This policy reaffirmation signals no change in China’s comprehensive regulatory stance, aiming to prevent capital flight and maintain sovereignty over monetary policy.
