China was one of the first countries to enthusiastically embrace cryptocurrency. However, in 2025, the country implemented strict measures regarding crypto assets.
Crypto Regulations in China
As of June 1, 2025, the People's Bank of China (PBOC) issued a ban on all crypto activities, including trading and individual ownership. This ban is part of a broader policy to centralize financial control and promote the use of the digital yuan.
Key previous regulatory dates include:
- September 24, 2021: Ban on trading and mining of cryptocurrencies. - June 2021: Ban on crypto mining due to environmental concerns. - September 30, 2017: Ban on ICOs.
Crypto Tax in China
With the ban on cryptocurrency, the issue of taxation has become irrelevant. The government focuses on innovations in blockchain associated with the digital yuan, while crypto assets are illegal.
Crypto License in China
Currently, there is no crypto license in China, as the ban on owning cryptocurrency makes licensing unnecessary. All activities concerning cryptocurrencies are prohibited, except for state-issued digital assets.
With stringent measures against cryptocurrency, China aims to strengthen control over the financial system and encourage the use of its digital yuan. Despite these measures, concerns about the use of cryptocurrencies for illicit activity remain.
