China warns of rising crypto risks, calls for tighter crackdown

[Myleschetty]

I also think that more nations will join the list of nations that will use Bitcoin for reserves, but we shouldn't be shocked if some nations decide not to follow China because of their repeated support and prohibition of Bitcoin mining, which will have an impact on nations that decide to follow them through the crypto activity.

[Z-tight]

I don't really care about crypto news coming out of China and i hope more crypto users do the same. However, to be fair, in this case they are talking about illegal use of crypto in China, and their focus is on stablecoins. Crypto trading and mining is already banned in China, so i want to believe the tighter crackdown they talk about is for people who still use crypto under the radar in China, and it has nothing to do with global use. The more reason why i would not take this seriously.

[hd49728]

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.

China has very long history of fudding Bitcoin and this following article is about its history of Bitcoin fud time line.

Fuds are not only about bans but other things and with this long history, you can see they failed to constrain Bitcoin growth in many years. In short term, fuds have strong negative effects but in long term, Bitcoin is very strong and grows up in its own way.

[Ronsbit]

From the onset, China has been inconsistent when it comes to crypto matters; they are just fluctuating about their involvement in crypto, hence they are not taken seriously by the crypto community, although they have bitcoin in possession, but that doesn't bother the crypto community because if China decides to do anything funny, there would definitely be a bounce back, and they would be at loss because if they hold they would benefit from their holdings in a long run.

[sokani]

If I were a Chinese citizen, I would keep buying and holding Bitcoin and other digital assets even if the government warned against it. Their action is ludicrous and contradicts everything they're saying about it. They are concerned about their citizens' interest in crypto, and yet they are still holding Bitcoin. If they want people to take them seriously, they should first get rid of their Bitcoin.

[8rch7]

If you have been in cryptocurrency last several years ago maybe not worry yet about China warning of risk when investing in cryptocurrency, I know cryptocurrency and ever getting bad news releasing by China not only first time but also for several time until China make decision to banned bitcoin as payment transaction in their country. Many people don't care about FUD and bad news publishing by China or US because bitcoin always raise to higher price after several countries such as China or US releasing bad news.
Now the investor and trader understand well about which one good or bad news and not panic yet if China warn risk of bitcoin and warn more bad news about bitcoin make investor keep believing with bitcoin as good investment assets.

[hyudien]

China current actions will likely only affect other cryptocurrency markets, but not Bitcoin, as the US remains dominant. Furthermore, they have long been anti-crypto, and when I opened your link, it was clear they wanted to tighten regulations even further, leaving no privacy rights for investors there.

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.

Perhaps only BRICS countries will follow China lead. Hopefully not, as Bitcoin still needs many countries to develop further.

[coolcoinz]

Funny thing is that we're constantly getting contradicting news from China. On one hand they banned mining in 2021, but they did not ban mining in Hong Kong.
They banned bitcoin exchanges somewhere in 2015, but not in Hong Kong. Despite the mining ban, people are mining there and its share of hash rate is rising.
According to this article China went from 17.7 to 14% this year which is a huge chunk of global bitcoin mining and they did all that while mining is officially banned! It's all FUD for the masses China is trying to get BTC and they're proving it all the time, recently by asking the US to give back coins seized from Chinese citizen.

IMO not only they will not ban bitcoin, but will lift the ban on mining within a year.

[Alpha Marine]

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

I guess they're also afraid of the fact that money might be leaving their country. I've read something before that one of the reasons China doesn't want Crypto trading is because they want to prevent capital leakages. When people trade in crypto, the money goes out of the economy, and they want to avoid that. Also, people holding their money in Bitcoin can be a form of capital leakage because the money is not flowing; it's just dormant in a place.

I don't think anybody has any data to back up their claim of the crypto crimes they talk about so much. They all have other reasons why they're against it, but this is the only reason that will make sense to people.

[red4slash]

When the ones doing it are the same countries that keep repeatedly changing their regulations on crypto, especially bitcoin then I think it's no surprise that when fud like this is done it still won't make a significant movement for the market in bitcoin.
I think most of us are already quite aware and intelligent that this kind of fud always happens and there is no need to make it a panic although indeed some fud moments like this always make the situation complicated for some people but it would be better if we don't care too much about things like this.

China has done something like this several times and they will try to change little by little later as if they become neutral and support bitcoin again then drop with fud again and something like this they always repeat.

[passwordnow]

News nowadays are not giving that much impact anymore in the market. But I agree, if this was before, the market would entirely fall all of a sudden. But this time, it's not giving and the market doesn't react a lot despite that we've seen this news and it's already reported globally. The market has dumped a lot already and so, news like this would really add a lot of pressure for people to sell more.

China has done something like this several times and they will try to change little by little later as if they become neutral and support bitcoin again then drop with fud again and something like this they always repeat.

It's a rinse and repeat strategy for them, I think that they want to buy more and that's why sending news and laws like this is a way to do it.

[SamReomo]

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.

Yes, there are some countries that have Bitcoin in their reserve and such countries aren't following China but are fully convinced that Bitcoin can be useful as a reserve and that's why they're having it in their reserves. Well, it's a battle to have Bitcoin or Gold in reserve and such a battle will continue. China and countries that follow China will most probably consider keeping and increasing Gold in their reserve while the US and the countries that follow it may choose Bitcoin as a reserve.

[Wincob]

China no longer has the power to impact the crypto market any more but what they said is true, crypto risks keeps rising because many people have turned into developers creating shit coin in less than a minute and they are dumping the shit coin on the market, and their stupid investors. Tighter crackdown was what I thought would be Trump most pushed agenda but it's not, he had a plan to also make big money through a meme coin.

[Minor Miner]

If I were a Chinese citizen, I would keep buying and holding Bitcoin and other digital assets even if the government warned against it. Their action is ludicrous and contradicts everything they're saying about it. They are concerned about their citizens' interest in crypto, and yet they are still holding Bitcoin. If they want people to take them seriously, they should first get rid of their Bitcoin.

There are still many Chinese people doing this secretly, many are still investing and even secretly mining crypto right on Chinese territory. Not everyone complies with government regulations because they know the huge potential and benefits of cryptocurrencies.

However, to this day, whether the Chinese government holds bitcoin or not is still controversial, we are not sure about that. Because according to my research, some sources said they are still holding the bitcoins confiscated from the PlusToken ponzi scheme, but many others said they sold most of those bitcoins in 2019. So it is difficult to be 100% sure that they are still holding bitcoins.

[adaseb]

I remember back in 2013-2015, China banned and unbanned bitcoin so many times that I couldn't count. There was a meme with an animation about Bitcoins price being too high and China saying "hello Internet, we ban bitcoin" and the price went down.

I think the last huge impact that China crackdown on Bitcoin was when they targetted miners and there was a massive hashrate decrease, the largest decrease I think ever and after that China really wasn't that effective on moving the markets, right now its mostly the United States and Donald Trump.

Its funny because I think I read an article a few days back where China might "go easy" on bitcoin and now I read this article which is the complete opposite.

[fuguebtc]

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.

Bitcoin was legal property in China before 2025, when they allowed people to own it but not trade it, or buy and sell it. But things have changed dramatically since June 2025, when China's central bank extended the ban, and now personal bitcoin ownership can also lead to administrative penalties or criminal prosecution. Bitcoin is no longer considered legal property in China.

They emphasize stablecoins because they are concerned about the rise of USD-pegged stablecoins, and they have said this many times before since the US passed the GENIUS Act. They don't talk much about bitcoin or crypto because they have a blanket ban.

[Z-tight]

Its funny because I think I read an article a few days back where China might "go easy" on bitcoin and now I read this article which is the complete opposite.

That is the sort of contradictory situation about BTC that we always get from China. However, to be fair, some of the crypto news we read about China were not official information from their government. I.e. the article you talk about was simply speculation, based on the fact that mining is banned in China, but the hash rate continues to grow. And considering the kind of country China is, the government is surely aware of this, so since they have not swept through the miners that continue to mine, then they may be purposely allowing it, hence 'going easy'.

[Taskford]

Its funny because I think I read an article a few days back where China might "go easy" on bitcoin and now I read this article which is the complete opposite.

That is the sort of contradictory situation about BTC that we always get from China. However, to be fair, some of the crypto news we read about China were not official information from their government. I.e. the article you talk about was simply speculation, based on the fact that mining is banned in China, but the hash rate continues to grow. And considering the kind of country China is, the government is surely aware of this, so since they have not swept through the miners that continue to mine, then they may be purposely allowing it, hence 'going easy'.

For many times China has been used by manipulators to spread fuds on the market. Maybe best for people to learn how to verify the news they are receiving since if they see the official document release came from China then they should think its true.

But if those information just came from random sources or even clickbait articles then I think its better for people to chill out and try to do background checking if what they are reading is legitimate information or not.

Also better for people to focus on countries that adopt Bitcoin since they are more relevant to discuss rather than those countries who ban or restrict the usage of Bitcoin.

[tottong]

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.

People are starting to be aware of the negative news that is currently appearing so that there is no longer panic which can cause turmoil and I am starting to see people are more inclined to hold bitcoin for reasons of long-term storage of value.
The news only hints at overblown fears and there may be no direct mention of bitcoin as they are only talking at the stablecoin level. In the short term may still be affected by the negative news that appears, but most people are generally starting to understand the form of FUD.

The price of bitcoin also doesn't have much influence on this news because now China is starting to take stricter measures against it and thus we can conclude that China is anti-bitcoin and anything related to bitcoin has also been banned by China now.

[Franklyn-wood]

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.

Maybe they can sell their Bitcoin and allow those that want to buy it to do that without trying to fud the market. I woke up this morning to notice that the price of Bitcoin has fallen which seems like China is trying to make the price of Bitcoin to depreciate again.
If China is not ready to invest in Bitcoin due to the risk it might pose to there economy, they can decide to sell their Bitcoin so that other countries can have a breath of fresh air and not by trying to make everything looks scary to people that are following the adoption of Bitcoin, always ready to buy and hold for their future benefits.