China banned bitcoin, Again?

[Findingnemo]

I saw this news on the Altcoinstalk and searched whether this is true, and yes, it looks like every news media outlet posted an article that claims China banned crypto trading, holding, and mining from 31st May 2025. Yet, there is no government ruling that states it is illegal, just like they always do but what's gonna be the impact on the bitcoin now, and it's not just the price perspective.

BTW, this is not the first time they did it, it started way back in 2013 and later in 2017, and so on with various reasons and various types of ban but now this just hit us.

Irony is that they made it illegal for their citizens to hold, trade, or mine while the government itself is accumulating bitcoin for a while.

[Ziskinberg]

just like they always do but what's gonna be the impact on the bitcoin now, ...

Nothing, really - China already banned Bitcoin years ago, so this kind of news isn’t surprising and shouldn’t impact the market anymore.

The price dipped a bit today, but I don’t think it’s because of that news. It’s likely due to something else.
It would help if you could provide a source so we can check the full details and see what really caused the move.

[Charles-Tim]

Nothing, really - China already banned Bitcoin years ago, so this kind of news isn’t surprising and shouldn’t impact the market anymore.

The thing now is that the ban statement is not from any governmenal regulatory body in China and also not from the Chinese government. That makes it kind of irrelevant.

According to what I read online about it, the source is likely from Binance Square where anybody can register and post something.

[Hazink]

According to what I was reading about the news, it was posted and spread out without a source to back the claim up. They said it popped up on the Binance forum, where anyone can sign up and make posts about any crypto-related stuff, but Binance and China have not given any official confirmation about the news. As such, we could just regard it as a rumour.

Nevertheless, there is no smoke without fire; there could be some leaked news from their official. Either they could be planning on reminding the citizens that Bitcoin is still banned in the country, inasmuch as the country's government is accumulating, or they do not give you room to start your own private accumulation.

[ultrloa]

I saw this news on the Altcoinstalk and searched whether this is true, and yes, it looks like every news media outlet posted an article that claims China banned crypto trading, holding, and mining from 31st May 2025. Yet, there is no government ruling that states it is illegal, just like they always do but what's gonna be the impact on the bitcoin now, and it's not just the price perspective.

BTW, this is not the first time they did it, it started way back in 2013 and later in 2017, and so on with various reasons and various types of ban but now this just hit us.

Irony is that they made it illegal for their citizens to hold, trade, or mine while the government itself is accumulating bitcoin for a while.

There's running rumors about it and many article spread, but there's no official announcement has been issued by govern bodies on that country.

This is sample article https://www.dart-europe.eu/china-bans-holding-bitcoin-what-it-means-for-crypto-investors/

Before what they didn't allow is trading and mining, but now it seems that they push their banning to next level then make sure that no one in China would hold Bitcoin and other alts because they are pushing to introduce digital yuan and be used by their citizens.

This is really crazy and it seems that people don't have freedom to choose what they like in their country.

[sheenshane]

There's details about it written in this article https://www.dart-europe.eu/china-bans-holding-bitcoin-what-it-means-for-crypto-investors/

But still, I couldn't find the official source.
There isn't a single direct link to a government website in the news summaries, but I think these reports reference the Chinese government's authoritative ban.

I'm attempting to find more news here on their government official website: https://www.gov.cn/.

But why are we worried about China's ban?
We've faced this situation before, let them ban if they choose.  It's not new to us.

[Russlenat]

There doesn’t seem to be any credible source. If this is really coming from the government, there should be an official post or statement, and that’s the most reliable source.

Until then, this could possibly be misinformation. But either way, we already know China’s stance on Bitcoin.

[BitMaxz]

I don't see any kind of this news today on the news aggregator for Bitcoin. It seems it was old news that just revived recently.
It didn't go through my feeds?

This is FUD. I guess it is just revived news that was created before. I'm not living in China, but if there's someone who lives in China here on the forum, he can confirm it and tell us if there's any recent local news related to Bitcoin ban.

There's another reason why the price is declining; this isn't because of the Bitcoin ban. Just think, if Bitcoin is banned in China, people who live there will hold not going to sell.

[d5000]

I have searched the web (only articles published in the last month) in Chinese about a "cryptocurrency ban china".

Google search link is here.

Same search in Baidu: here.

I didn't find anything recent (i.e. since May 2025) with the exception of the Binance community source (which is user generated content as already stated by Charles-Tim) and its copies in other "media", often in articles which are very likely AI generated. I translated the genuine Chinese articles in this list with Gemini, but they are either reports on previous bans like the mining ban in 2021 or articles only marginally related (e.g. an article about a Vance speech where they mention China's mining ban).

Perhaps somebody who knows Chinese can confirm that?

If there really was a ban, then I would expect chinese government media talking about that. Otherwise how should the ban be communicated to the people?

I feel somebody is exploiting the fact that only few people in countries outside Asia speak Chinese, and that the Chinese web is segregated from the rest of the world's web via the "Great Firewall", to disseminate FUD. Someone shorting Bitcoin, perhaps ...

PS: The difference highlighted by the AI generated articles is that (according to these "sources") now private ownership was banned. Mining and Chinese CEXes were already banned in 2021.

[BenCodie]

This is not the first time that China has banned Bitcoin in some way though if I recall correctly, this would be the first time that it bans trading, mining and holding all in one ban. In the past it has been news articles about bans on mining, or bans on trading/transacting...I've not seen or read about one with all 3.

Anything that isn't set in law is just publicity and FUD anyway. Unless, this is China's attempt at hitting Bitcoin after their development of the digital yuan.

I have searched the web (only articles published in the last month) in Chinese about a "cryptocurrency ban china".

Google search link is here.

Same search in Baidu: here.

I didn't find anything recent (i.e. since May 2025) with the exception of the Binance community source (which is user generated content as already stated by Charles-Tim) and its copies in other "media", often in articles which are very likely AI generated. I translated the genuine Chinese articles in this list with Gemini, but they are either reports on previous bans like the mining ban in 2021 or articles only marginally related (e.g. an article about a Vance speech where they mention China's mining ban).

Perhaps somebody who knows Chinese can confirm that?

If there really was a ban, then I would expect chinese government media talking about that. Otherwise how should the ban be communicated to the people?

I feel somebody is exploiting the fact that only few people in countries outside Asia speak Chinese, and that the Chinese web is segregated from the rest of the world's web via the "Great Firewall", to disseminate FUD. Someone shorting Bitcoin, perhaps ...

There aren't many reliable sources and it's most likely fake news stemming from user generated content on Binance, according to this article from CoinTelegraph

Nothing directly from the government has been published. Seems like a successful fake news campaign

[headingnorth]

Fake news strikes again. Don't believe everything you read on the internet.

No, China Did Not Just Ban Bitcoin Again | Forbes

The current bitcoin selling pressure probably caused by customers getting paid back from FTX, Blockfi, Celsius, Mt. Gox, etc.
It has nothing to do with China. Many getting the repayments see $100K+ as a good exit price.

When all this clears up the price can rise again. This looks like a good buy the dip opportunity.

[Asiska02]

According to what I was reading about the news, it was posted and spread out without a source to back the claim up. They said it popped up on the Binance forum, where anyone can sign up and make posts about any crypto-related stuff, but Binance and China have not given any official confirmation about the news. As such, we could just regard it as a rumour.

This is rumor because even in as much as it is not going to have effect on the bitcoin market, there must be an official statement from the Chinese government to make it something to believe in. I know that the Chinese government and the US government are not in good terms and the Chinese government will always like to do the opposite of what US government wants. This could be the reason behind any ban if there is ever going to be any in the nearest future. This is just a rumor but a very strong one to still have some expectations to turn out to be true. Since the rumor is still very early, we should wait to hear from this authorities any official statement regarding that.

[KingsDen]

I saw this news on the Altcoinstalk and searched whether this is true, and yes, it looks like every news media outlet posted an article that claims China banned crypto trading, holding, and mining from 31st May 2025. Yet, there is no government ruling that states it is illegal, just like they always do but what's gonna be the impact on the bitcoin now, and it's not just the price perspective.

BTW, this is not the first time they did it, it started way back in 2013 and later in 2017, and so on with various reasons and various types of ban but now this just hit us.

Irony is that they made it illegal for their citizens to hold, trade, or mine while the government itself is accumulating bitcoin for a while.

The news had already slides without much impacts and many people are not even aware of the news. If it was in the early days of bitcoin, everyone would have been shivering as if Bitcoin will end the next day. This is a sign that bitcoin has won. Bitcoiners are no longer under fear, if China bans bitcoin today, before year ends, 5 other countries will adopt it.

The reason China is doing this is because US is for bitcoin. Anyday US makes a U-turn against bitcoin, you'll be amazed how China will begin to support bitcoin.

[Darker45]

Whether this is fake news or not, coming from an unconfirmed source or a leak, unofficial statements, or whatever, what does it matter? Bitcoin is already banned in China. If the news is true, then what's the big deal? They ban once more what's already banned. Let China ban Bitcoin for the third time. If they want, they can ban it every week, every month, every year. They can set a date every year for Bitcoin ban anniversary. Should the rest of the world or the market react?

[Catenaccio]

I saw this news on the Altcoinstalk and searched whether this is true, and yes, it looks like every news media outlet posted an article that claims China banned crypto trading, holding, and mining from 31st May 2025. Yet, there is no government ruling that states it is illegal, just like they always do but what's gonna be the impact on the bitcoin now, and it's not just the price perspective.

BTW, this is not the first time they did it, it started way back in 2013 and later in 2017, and so on with various reasons and various types of ban but now this just hit us.

Truly it is not a first time they did it, and even you seemed to know it well, I'd like to share some interesting information about fud from China in Bitcoin history.

China's long history of Bitcoin fud timeline.
https://cryptopotato.com/chinas-long-history-of-bitcoin-fud-timeline/#&gid=1&pid=1

A post above provided information to debunk this news as fud, and there is no actual ban from China this time. However even if their government have actually wanted to make such bans, Bitcoin and cryptocurrency market would have been continuing well.

[X-ray]

Sounds like a fud, yet even if they did probably just trying to tie a loose end and there's not going to be significant effect for current bitcoin, we're used to china banning anything.

As of current price action where bitcoin is correcting, I think it's natural. People see double top and panics, but I hope the structure gonna be broken.

[maydna]

Whether this is fake news or not, coming from an unconfirmed source or a leak, unofficial statements, or whatever, what does it matter? Bitcoin is already banned in China. If the news is true, then what's the big deal? They ban once more what's already banned. Let China ban Bitcoin for the third time. If they want, they can ban it every week, every month, every year. They can set a date every year for Bitcoin ban anniversary. Should the rest of the world or the market react?

Yes, that is not a big deal because Bitcoin will still running with or without China. So even if that news is real, that will not affect too much for Bitcoin but well, yeah that may give the effect but Bitcoin will be back to normal.

Let China ban Bitcoin (again) but I am not sure if their government will stop accumulating Bitcoin. If they ban Bitcoin, perhaps they want to hide their accumulating process to buy Bitcoin so public will not know.

If they really ban Bitcoin and not buying Bitcoin anymore, that will be their disadvantage. They will not make more profit and only rely on Bitcoin they have. So we will see if that is a new or real fake.

[JeffBrad12]

This shitty fud always appear whenever BTC hitting ATH, same thing happened in the previous cycle.
Since china has been out of the game for quite some time, people should just ignore it.
What does china have to do with the market anyway, be wise people .
At the very least we all know any "china ban btc" fud won't work in the future.

[KiaKia]

It's FUD

I won't be worried about ban on Bitcoin right now, look what's happening between Elon Musk and Trump, dollar is in trouble, and those who are in the United States planning to retire some day with the dollar will be affected.

It could probably helps Bitcoin in the future but since a day now Bitcoin has been dumping, it's not looking good for the whole market as we speak.

Bans on Bitcoin have no effects anymore, no matter which country introduced the ban it's no more effective so don't worry yourself about China ban, it's been ongoing for years already like an unlimited rotation.

[FinneysTrueVision]

Altcoinstalks and Binance Square aren’t exactly reputable sources. If this news was real then surely there would have been something published on major news websites, but the only reports I could find are the ones saying this was fake news. So many crypto websites are just AI content farms these days and that helps propagate false stories. That’s why we should do some basic fact checking and look for information from reliable sources before believing these rumors.