According to the "Notice on Further Preventing and Dealing with the Risks of Virtual Currency Trading and Speculation" issued by the People's Bank of China and ten other departments on November 28, 2025, activities related to virtual currencies (including but not limited to acting as a central counterparty for buying and selling, providing intermediary and pricing services for both buyers and sellers, token issuance financing, virtual currency exchange, trading, etc.) are classified as illegal financial activities. This means that any business activities conducted within China that involve virtual currencies as the subject or medium, such as buying, exchanging, intermediation, etc., are illegal. Market forecasts predict that BTC will drop to 30,000 within the next 12 months.