China warns of rising crypto risks, calls for tighter crackdown

[Oshosondy]

First if all, do you know what I like about this? Bitcoin price was not affected by the news. If it was in the past, bitcoin price would have falling significantly because of news like this.

China Central Bank (People's Bank of China) had a meeting on the 28th of this month about how Chinese crypto use has been increasing, the meeting was to address renewed risks in cryptocurrency trading and speculation.

You can read the news: https://www.techinasia.com/news/china-warns-of-rising-crypto-risks-calls-for-tighter-crackdown

I guess China may be afraid more about stable coins which United States dollar pegged coins are the dominant.

I am very happy that some countries are not following China, if more countries have bitcoin in reserves, I believe many other countries will follow and leave China behind. Although China is not having plans to sell their bitcoin holding yet which look like a reserve on it own for now.

[Ambatman]

First if all, do you know what I like about this? Bitcoin price was not affected by the news. If it was in the past, bitcoin price would have falling significantly because of news like this.

That's because many are aware China don't really have a direct impact in Bitcoin price
Unlike the US they have been Anti Bitcoin. It's like Peter schiff saying Bitcoin is falling today
Many wouldn't pay him any heed, but Saylor? That would be different entirely.


Checked the link and it's obvious they are driving towards the direction of stricter KYC
Right to privacy is becoming a myth.

[Frankolala]

People no longer believe in FUD anymore because they have confirmed it that bitcoin is a store of value overtime as fiat losses it purchasing power overtime. US in majorly involved in bitcoin than any country, so if the news isn't from the US, there will be no panic because US has openly supported crypto by creating Bitcoin Strategic Reserve and other countries and big tech companies with non tech companies have invested heavily on bitcoin to preserve their wealth.

However, there was no where bitcoin was mentioned in the article. It was stablecoins and that has nothing to do with bitcoin.

[stadus]

China is no longer a real factor that can shake the market with their anti-crypto news. The last time they had any big negative impact was when they banned Bitcoin trading and mining, and that was years ago. Now whenever something negative comes from them, people just ignore it.

But if one day they change their mind and accept Bitcoin, that’s a different story. That kind of news could create serious hype and push Bitcoin to a new ATH.

[Crypt0Gore]

Believe China at your own risk, when I was very new to crypto I have made wrong decisions because I believed in their shit but they have always been good with their lies, this was how they made people believe that China had no business with Bitcoin, Trump and Jinping are one of the biggest believer of Bitcoin, all they can do is spread FUD and if you listen to their nonsense you will miss out on good opportunities.

This FUD doesn't start right now, its been a very long time that they have been doing it and I guess it works damn well every freaking time.

[7juju]

China has already lost any influence they had in the past regarding bitcoin because they have ban bitcoin several times in that country, and people already know them as a country that's not bitcoin friendly. You are saying you don't like bitcoin and people should be careful with it and you are discouraging your citizens from investing in it but you are holding bitcoins you seized from people. Why don't you sell it so we will know that you are not in support of bitcoin. China should relax nobody is interested in whatever they have to say about bitcoin, they are just seeking to be relevance in this space but nobody gives a fu*k about them anymore.

[Darker45]

The price didn't react because this isn't big news anymore. It's not like China is pro-Bitcoin yet today it announces it's going to implement a tighter crackdown against it. China has already been anti-Bitcoin.

Notwithstanding its own Bitcoin stash, the communist government hasn't yet lifted the ban on Bitcoin. So, if it calls for a stricter crackdown, what's new? Bitcoin trading has already been banned. Bitcoin mining has been banned. Bitcoin ownership is also banned.

[Fiatless]

China has lost its top spot as a crypto hub; hence, its influence has reduced. I read that mining activities still go on in the country. They want to increase strategies to increase control since crypto use is still increasing in the country.

However, there was no where bitcoin was mentioned in the article. It was stablecoins and that has nothing to do with bitcoin.

The article mentioned virtual and crypto currencies, and Bitcoin is classified under this group.

[fuguebtc]

People no longer believe in FUD anymore because they have confirmed it that bitcoin is a store of value overtime as fiat losses it purchasing power overtime. US in majorly involved in bitcoin than any country, so if the news isn't from the US, there will be no panic because US has openly supported crypto by creating Bitcoin Strategic Reserve and other countries and big tech companies with non tech companies have invested heavily on bitcoin to preserve their wealth.

However, there was no where bitcoin was mentioned in the article. It was stablecoins and that has nothing to do with bitcoin.

What you say makes it sound like bitcoin is a US asset and heavily US dependent, not a global asset.


If you believe that the price of bitcoin will be affected by the US, don't get too excited about what is happening. Because the bitcoin strategic reserve is just an executive order, meaning they are only temporarily not selling them. There is no guarantee that when Trump's term ends he won't order them sold or that the next administration will do so.

Likewise, US institutions are also speculating on it, with no intention of holding it for the long term. They will also sell when they reach their target and then the market will go into a state of extreme panic.

However, there was no where bitcoin was mentioned in the article. It was stablecoins and that has nothing to do with bitcoin.

They have banned bitcoin and crypto since 2017 and they just want to re-emphasize their stance and tighten the ban even more.

[Bluedrem]

China and the United States are eternal rivals in every aspect, be it economic or military. While the United States is accumulating Bitcoin in its reserves day by day, China may be trying to reduce the use of Bitcoin through various announcements or trying to reduce the price of Bitcoin so that the United States is upset or China is secretly moving towards collecting more behind this announcement.
People no longer think about Bitcoin in one direction only. Now people have many thoughts about Bitcoin, due to which a single announcement no longer has a big impact on the price of Bitcoin. Bitcoin is now considered a wealth of many people than before, that is, the number of people holding Bitcoin is now much higher. In addition to accepting Bitcoin from many large countries, there are many individual groups or companies that hold Bitcoin, which is enough to prevent the unwanted decline in the price of Bitcoin.

[Karl_3000]

However, there was no where bitcoin was mentioned in the article. It was stablecoins and that has nothing to do with bitcoin.

They have banned bitcoin and crypto since 2017 and they just want to re-emphasize their stance and tighten the ban even more.

Bitcoin is legal as a property in China but not legal as a currency, the meeting is about all cryptocurrencies but they make emphasis more on stable coins, that they are used in money laundering and fraud. But bitcoin is still among virtual currencies which People's Bank of China still see being used as a currency to be illegal.

[Solosanz]

What actually they're talking about? they already launch their own stablecoin https://www.reuters.com/markets/emerging/chinas-yuan-stablecoin-debut-kazakhstan-signals-blockchain-ambition-2025-09-29/

So is it the illegal use happen on their own stablecoin or their citizen use "foreign stablecoin" e.g. USDT, USDC etc which they declare as illegal?

The short dump happen on Bitcoin wasn't cause by any article, it happen naturally based on what people believe in 4 years cycle.

[Catenaccio]

China Central Bank (People's Bank of China) had a meeting on the 28th of this month about how Chinese crypto use has been increasing, the meeting was to address renewed risks in cryptocurrency trading and speculation.

China government has tried to crack down many things, Bitcoin, cryptocurrencies, mining to market industries and they also have tried to crack down Chinese and neighbour nations. Let's them freely from thinking to action but Bitcoin and cryptocurrency market are big enough, decentralized enough so if they crack down these things in their nation, they will self create disadvantages for their nation.

It will like a slap against Chinese and the people in China will have more reasons to take over the power from Chinese government, from CPP. The Gen Z evolution has been spreading around many nations, and China can be the next if their government are not careful with actions in coming months.

[AbuBhakar]

I experienced before when the news from China related affect that much the price of Bitcoin.

However, the continuous manipulation and recycled news about hype and FUD related to China makes me immune to the news related to China.

They already became irrelevant to Bitcoin after they decided to totally ban Bitcoin before.

[malekbaba]

China stands against Crypto and banned crypto million times. This sort of news from china will cause no harm to btc / crypto cause market doesn't react to Old news.
As crypto is illegal trade in China, they really play insignificant role in providing crypto volume. It is something like Policy reminder , no major change or no new policy. May be they will enhance the monitoring of capital flow , tougher enforcement to stop crypto use within China, Thats it

[asriloni]

Getting tired to see how PBOC keeps repeat the same trick over and over to scare anyone. I'm wondering when they will aware crackdown crypto will never work again. They have accept the truth if crypto wave can't be resisted. The harder they try to resist from the wave of crypto, the far their target from getting de-dolarization.

They have to follow the wave, otherwise, they will behind US in term of crypto adoption.