On November 28, 2025, the People’s Bank of China (PBC) held a coordination meeting on crypto assets. As part of it, the regulator clarified the status of crypto assets, confirming their ban. The meeting was attended by representatives from the Ministry of Public Security, the Cyberspace Administration of China (CAC), the Supreme People’s Court, the […] Сообщение China’s Central Bank Clarifies Status of Crypto Assets появились сначала на INCRYPTED.On November 28, 2025, the People’s Bank of China (PBC) held a coordination meeting on crypto assets. As part of it, the regulator clarified the status of crypto assets, confirming their ban. The meeting was attended by representatives from the Ministry of Public Security, the Cyberspace Administration of China (CAC), the Supreme People’s Court, the […] Сообщение China’s Central Bank Clarifies Status of Crypto Assets появились сначала на INCRYPTED.
China’s Central Bank Clarifies Status of Crypto Assets
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- China’s central bank and a number of other agencies held a meeting on crypto assets.
- The reason for this was the growing activity in this sector.
- According to its results, the regulator confirmed the ban on crypto assets, as well as stablecoins.
On November 28, 2025, the People’s Bank of China (PBC) held a coordination meeting on crypto assets. As part of it, the regulator clarified the status of crypto assets, confirming their ban.
The meeting was attended by representatives from the Ministry of Public Security, the Cyberspace Administration of China (CAC), the Supreme People’s Court, the Supreme People’s Procuratorate and other departments.
The statement said that in the past years, all agencies have faithfully implemented the provisions of the 2021 “Notice on Further Preventing and Resolving the Risks of Trading and Speculation in Virtual Currencies.” This document effectively banned the circulation of cryptocurrency in China.
On the ground, the regulator re-explained the following points:
- virtual assets do not have the same status as fiat
- they cannot serve as a means of payment, nor can they be used for market activities
- any activity related to crypto-assets is illegal
- stablecoins are part of virtual assets and do not meet the strict AML/CTF requirements, their use entails risks
- the authorities will continue to maintain a prohibitive policy regarding crypto-assets
Recall, earlier in the press there was information that China may weaken the regulatory regime for stablecoins. On the grounds of this, several techno companies announced plans to issue such assets in Hong Kong, but they were later postponed.
Despite the crypto sphere ban, China is still among the top three global leaders in hash rate.
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