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Author: Admin | 2025-04-27
Regulation. What’s more, read on for a full breakdown of the very real restrictions that deter cryptocurrency adoption in China. This shows that while China has not put a complete ban on cryptocurrencies in place, it is making it increasingly hard for people to interact with the asset class. As a result, it is easy to see why the headline ”China bans Bitcoin” remains such a persistent clickbait title in articles year after year.Reuters’ Recent ”China Bans Crypto” ArticleThe most recent news regarding whether China has banned Bitcoin and crypto or not largely stems from a Reuters article. On May 18th, Reuters published an article alleging China is prohibiting financial institutions and payment providers from dealing with cryptocurrencies. What’s more, the article also said China is advising investors against speculative crypto trading. Practically speaking, this news makes it clear that institutions like banks cannot offer cryptocurrency services to their clients. Nevertheless, while Reuters portrays this as breaking news, this actually seems to be an old announcement.According to Chinese crypto watchers, this latest statement only repeats ”an anti-speculation law from years ago”. The tweet from Qiao Wang stating this is attached above. What’s more, the cautionary statement did not come from the Chinese central bank. Rather, it was a joint statement from the China Banking Association, the National Internet Finance Association of China, as well as the Payment and Clearing Association of China. The statement also reiterates that China Bitcoin exchanges and crypto exchanges are illegal – but this has long
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