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Chinese authorities have announced a comprehensive and final ban on all forms of decentralized cryptocurrencies, reaffirming Beijing’s hardline stance toward a sector marked by sharp global volatility.

The decision comes as part of a broader framework aimed at strengthening oversight of the financial system, protecting economic stability, and curbing risks linked to unregulated speculation, money laundering, and illicit capital flows.

Under the ban, all cryptocurrency-related activities are prohibited within China, including trading, mining, issuance, promotion, and the provision of related services, whether by individuals or corporations.

Regulatory bodies stressed that cryptocurrencies do not hold legal status as a means of payment and are not protected under Chinese law. Citizens were warned against engaging in crypto-related transactions or investment activities due to the high financial risks involved, which could result in substantial losses.

Authorities also confirmed that foreign platforms offering cryptocurrency services to residents in China are operating illegally and will face strict enforcement measures, including legal action and service blockages. Any attempts to circumvent the restrictions will be met with severe penalties.