PBOC Crypto Ban 2025: What It Means for China and Global Crypto

When the People's Bank of China, the central bank of China responsible for monetary policy and financial regulation. Also known as PBOC, it controls the country's financial system and has been leading the world in state-backed digital currency development. moved to ban all crypto trading in 2021, it wasn’t just a warning—it was a signal. By 2025, that ban isn’t just holding. It’s expanding. The PBOC crypto ban 2025 isn’t about stopping Bitcoin. It’s about replacing it. The central bank is pushing its own digital currency, the digital yuan, with full control over every transaction, every user, and every flow of money. No anonymity. No decentralized networks. Just state-monitored digital cash.

This isn’t happening in a vacuum. Countries watching China’s move are adjusting their own rules. The digital yuan, China’s central bank digital currency (CBDC) designed to replace cash and reduce reliance on private payment systems. Also known as e-CNY, it’s already being tested in over 200 cities with millions of users. is now fully integrated into retail, public services, and even cross-border trade. Meanwhile, crypto exchanges operating inside China have been shut down, and foreign platforms are blocked at the network level. Even holding crypto privately is risky—banks report suspicious activity, wallets get frozen, and users face fines. The PBOC doesn’t just want to regulate crypto. It wants to erase its role in the economy.

But here’s the twist: the ban hasn’t killed crypto in China. It just pushed it underground. P2P trading is booming. OTC desks operate quietly. Miners moved to Kazakhstan, Russia, and the U.S.—but their influence still echoes. The PBOC’s real goal isn’t to stop innovation. It’s to own it. By controlling the digital yuan, they control data, taxation, and financial surveillance. That’s why global regulators are watching closely. If China succeeds, other nations may follow. The crypto crackdown, a coordinated government effort to restrict or eliminate decentralized digital currencies through legal, technical, or financial means. Also known as crypto ban, it’s no longer just a rumor in authoritarian states—it’s becoming standard policy. isn’t just about money. It’s about power.

What you’ll find below isn’t speculation. It’s real cases. Real rules. Real consequences. Posts cover how traders in Hong Kong and Thailand are adapting, how exchanges like WOOFi and Sovryn are navigating the fallout, and why projects like Numogram and RACA are struggling to survive under this new global pressure. You’ll see how the PBOC’s actions ripple through DeFi, airdrops, and even tokenomics. This isn’t a headline. It’s the new reality.