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There are a number of explanation why China has banned crypto trading. If someone loses money in crypto trading, the law doesn’t defend them. In the grand theater of state power, the ban is less about expertise and extra about the existential dread of relinquishing monetary sovereignty to decentralized algorithms. All digital tokens, together with stablecoins, fall underneath the 2025 ban. Since the PBOC decree on May302025, any personal ownership of Bitcoin or other cryptocurrencies is assessed as a legal offense.
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