🇨🇳 China banned everything Cryptocurrency
📅 Timeline of Key Events
- May 30, 2025: The People’s Bank of China (PBOC) issued a comprehensive ban on all cryptocurrency activities.
- June 1, 2025: The ban officially came into effect, criminalizing:
- Trading
- Mining
- Personal ownership of cryptocurrencies like Bitcoin and Ethereum.
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🧾 Legal Provisions & Enforcement
- Scope of the Ban:
- All decentralized digital assets are now illegal.
- Includes seizure of crypto assets and suspension of transactions.
- Penalties:
- Asset confiscation
- Criminal prosecution for violations
- Deportation for foreign nationals involved in crypto scams.
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🏦 Strategic Motives Behind the Ban
China’s crackdown is not just regulatory—it’s deeply strategic:
- Promoting the Digital Yuan (e-CNY):
- The ban eliminates competition for China’s central bank digital currency (CBDC).
- Financial Sovereignty:
- Ensures all digital transactions flow through state-controlled channels.
- Surveillance & Control:
- Blockchain is being repurposed for data sovereignty, not decentralization.
---
🔍 Is This Really New?
- Not entirely. China has been tightening crypto regulations since:
- 2017: ICO ban
- 2021: Mining and trading ban
- 2025: Now extended to personal ownership, marking the most aggressive stance yet.
- Digital Yuan Expansion:
- China is accelerating its rollout of the e-CNY for domestic and cross-border use.
📅 Timeline of Key Events
- May 30, 2025: The People’s Bank of China (PBOC) issued a comprehensive ban on all cryptocurrency activities.
- June 1, 2025: The ban officially came into effect, criminalizing:
- Trading
- Mining
- Personal ownership of cryptocurrencies like Bitcoin and Ethereum.
---
🧾 Legal Provisions & Enforcement
- Scope of the Ban:
- All decentralized digital assets are now illegal.
- Includes seizure of crypto assets and suspension of transactions.
- Penalties:
- Asset confiscation
- Criminal prosecution for violations
- Deportation for foreign nationals involved in crypto scams.
---
🏦 Strategic Motives Behind the Ban
China’s crackdown is not just regulatory—it’s deeply strategic:
- Promoting the Digital Yuan (e-CNY):
- The ban eliminates competition for China’s central bank digital currency (CBDC).
- Financial Sovereignty:
- Ensures all digital transactions flow through state-controlled channels.
- Surveillance & Control:
- Blockchain is being repurposed for data sovereignty, not decentralization.
---
🔍 Is This Really New?
- Not entirely. China has been tightening crypto regulations since:
- 2017: ICO ban
- 2021: Mining and trading ban
- 2025: Now extended to personal ownership, marking the most aggressive stance yet.
- Digital Yuan Expansion:
- China is accelerating its rollout of the e-CNY for domestic and cross-border use.
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Flying Magic V5, beautiful models and a real DJ
This is exactly what the Honor pavilion looked like at the ChinaJoy exhibition in Shanghai this year.
The public especially liked the stand with the Magic V5, hovering in an improvised wind tunnel based on four hair dryers 😅
This is exactly what the Honor pavilion looked like at the ChinaJoy exhibition in Shanghai this year.
The public especially liked the stand with the Magic V5, hovering in an improvised wind tunnel based on four hair dryers 😅
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