The post China’s Central Bank Reinforces Crypto Ban, Warns of Stablecoin Threats appeared on BitcoinEthereumNews.com.

The People’s Bank of China (PBoC) held a major coordination meeting on Friday, November 28, 2025, bringing together thirteen government agencies to address what they call a “resurgence” of digital asset speculation. China’s financial authorities have delivered their strongest warning against cryptocurrencies in years. The meeting marked the most forceful public statement on cryptocurrency since China’s original ban in 2021. Officials made it clear that virtual currencies remain illegal and pose growing risks to financial stability. Multi-Agency Crackdown Intensifies The coordination meeting included high-level representatives from key government bodies. These agencies ranged from the Ministry of Public Security to the Supreme People’s Court. The coordination shows how seriously Beijing takes the crypto threat. “Virtual currencies do not have the same legal status as fiat currencies, lack legal tender status, and should not and cannot be used as currency in the market,” the PBoC stated. The bank promised to “severely crack down on illegal and criminal activities.” This statement directly counters any speculation that China might soften its stance on digital assets. The meeting addressed what officials described as renewed crypto speculation driven by global price increases and social media hype. Chinese authorities noted that their September 2021 crackdown had “rectified the chaos in the virtual currency market” and “achieved significant results.” However, they observed that crypto activities have recently increased again. Stablecoins Face Particular Scrutiny The PBoC singled out stablecoins for special criticism. These digital tokens, designed to maintain stable value by pegging to traditional currencies, drew harsh warnings from regulators. Officials identified stablecoins as failing to meet know-your-customer and anti-money laundering standards. The bank flagged risks around money laundering, fraudulent fundraising, illegal cross-border transfers, and underground payments. “Stablecoins, a form of virtual currency, currently fail to effectively meet requirements for customer identification and anti-money laundering,” the statement read. Chinese…

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Filed under: News - @ November 30, 2025 8:20 pm