The Ministry of Industry and Information Technology (MIIT) of China has officially confirmed that the country has no intention of lifting the comprehensive ban on cryptocurrency trading and mining, initially implemented in the autumn of 2021. This decisive ruling comes amidst active growth in Asian Web3 markets and heightened speculation regarding the potential “rehabilitation” of digital assets within the People’s Republic of China.
Authorities firmly stress that crypto mining “undermines energy security,” while the circulation of cryptocurrencies “creates risks to financial stability.” In the four years following the ban, China has effectively relinquished its global leadership in Bitcoin’s hashrate (falling from 70% to less than 5%). However, as analysts observe, the country has simultaneously reinforced its dominance in token-less blockchain infrastructure, particularly through projects like BSN (Blockchain-based Service Network) and its CBDC e-CNY, where the digital yuan already serves over 300 million users.
Thus, China is constructing a post-cryptocurrency model for its digital economy: while tokens remain outlawed, the core blockchain architecture is being seamlessly integrated into state-controlled systems.
“China will not return to crypto; it is simply rewriting its code to fit its own narrative,” commented Vlad Kostiuk, columnist for FUTURUM.
Source: Official statement by China’s MIIT, November 2025.
