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🔥 BREAKING: China’s Central Bank Declares Crypto Not Legal Tender, Tightens Crackdown 🇨🇳
The People’s Bank of China (PBoC) has officially issued a regulatory notice stating that:
⚠️ Virtual currencies are not legal tender in China and
⚠️ Activities related to cryptocurrencies are illegal — reinforcing decades-long policy, and
🚨 Crypto mining will continue to be cracked down on across the country.
This latest notice is one of the strongest regulatory signals yet from Chinese authorities against decentralized digital assets.
📌 What the Notice Says:
• Virtual currencies (e.g., Bitcoin, Ethereum, stablecoins, NFTs) are not recognized as money under Chinese law.
• Trading, transfer, exchange, and related services for decentralized digital assets remain prohibited unless specifically authorized.
• The PBoC reiterates that crypto mining is not welcome — continuing enforcement actions and penalties where necessary.
🛑 Why This Matters:
🇨🇳 China’s regulatory stance remains extremely strict:
• Cryptocurrency is treated as unregulated financial risk, not fiat money.
• Activities like custody, trading, issuance, and token services are not sanctioned.
• This builds on previous bans and reinforces zero tolerance toward decentralized crypto.
🌍 Global Crypto Context:
• This notice doesn’t directly affect crypto legality outside China — it’s a sovereign policy for Chinese jurisdiction.
• Global markets (BTC, ETH, DeFi, and institutional products) are largely governed by local laws in their own countries.
• Traders and builders in global markets should *monitor how this impacts capital flows *and on-chain behavior, but not overreact to jurisdiction-specific policy.
💬 Viral + Balanced Caption:
China’s central bank says “crypto ≠ money,” and doubles down on mining bans — tough stance, but global crypto still builds. 💪🪙
Regulation vs innovation — the game continues. 🚀
$BTC $ETH $ENA


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