The United States is desperately supporting it, while 13 Chinese ministries are encircling it! Why is China cracking down on cryptocurrencies with an iron fist?
Thirteen Chinese departments are working together to ban cryptocurrency trading, while the United States is embracing it and promoting legislation. From the birth of Bitcoin during the 2008 financial crisis to its explosion in 2018 fueled by global anti-money laundering efforts, and now to the 2024 U.S. government binding cryptocurrencies to national debt—behind this digital asset game is the ultimate contest of financial sovereignty and regulatory wisdom. When fraud groups use Bitcoin to transfer hundreds of billions of black money, China chooses to build a firewall, while the U.S. is using encryption technology to reconstruct the dollar's hegemony.
The anonymity and cross-border nature of cryptocurrencies make them a breeding ground for money laundering, fraud, and illegal fundraising. Data from 2025 shows that multiple fraud cases using stablecoins (like USDT) have been investigated domestically, with the amount involved reaching 5.6 billion yuan. At the same time, cryptocurrency trading can bypass foreign exchange controls, exacerbating capital outflow pressure and affecting the stability of the RMB exchange rate.
As of November 2025, mainland China still fully prohibits cryptocurrency trading and mining, but the Guangdong-Hong Kong-Macao Greater Bay Area has piloted limited opening of cross-border investment channels, while the central bank continues to strengthen the crackdown on illegal domestic trading and promote the digital RMB strategy.
In May 2021, Bitcoin crashed from a high of $64,000, halving in just ten days. A post-95 programmer, Xiao Li, leveraged his house down payment and all of his parents' retirement funds tenfold to go long, ultimately going bankrupt and owing the bank 3 million. He resigned from his office job in the magic city and started delivering takeout to pay off his debts, riding his electric bike every day under the shadows of coconut trees, watching the constantly fluctuating K-lines on his phone, tears mingling with sweat dripping onto the screen. That same year, Aunt Wang, an elderly woman, was pulled into a group called 'AXS Wealth Group' by a community 'crypto master,' where members flaunted Lamborghinis and yachts every day. She converted her 400,000 yuan saved from selling vegetables and her husband’s lung cancer treatment funds entirely into SHIB and a bunch of animal coins. On the day SHIB went to zero in November, Aunt Wang fainted at the vegetable market and was diagnosed with a cerebral hemorrhage, while her husband’s chemotherapy also stopped. On the day of the LUNA crash in 2022, a father in South Korea jumped from an apartment building with his two children, leaving a note: 'I'm sorry, I thought the 20% annualized return on UST could help my children get into better schools.' These bloody stories are replayed every year with different coins and different people. The crypto space has no new stories, only new victims. Remember: Leverage will kill you, air coins will go to zero, and signal groups are all harvesters. The financial freedom you think you have is often just a ticket for others to harvest you. Never gamble with money you can't afford to lose. $BTC {future}(BTCUSDT) $ETH {future}(ETHUSDT) $BNB {future}(BNBUSDT)
In May 2021, Bitcoin crashed from a high of $64,000, halving in just ten days. A post-95 programmer, Xiao Li, leveraged his house down payment and all of his parents' retirement funds tenfold to go long, ultimately going bankrupt and owing the bank 3 million. He resigned from his office job in the magic city and started delivering takeout to pay off his debts, riding his electric bike every day under the shadows of coconut trees, watching the constantly fluctuating K-lines on his phone, tears mingling with sweat dripping onto the screen. That same year, Aunt Wang, an elderly woman, was pulled into a group called 'AXS Wealth Group' by a community 'crypto master,' where members flaunted Lamborghinis and yachts every day. She converted her 400,000 yuan saved from selling vegetables and her husband’s lung cancer treatment funds entirely into SHIB and a bunch of animal coins. On the day SHIB went to zero in November, Aunt Wang fainted at the vegetable market and was diagnosed with a cerebral hemorrhage, while her husband’s chemotherapy also stopped. On the day of the LUNA crash in 2022, a father in South Korea jumped from an apartment building with his two children, leaving a note: 'I'm sorry, I thought the 20% annualized return on UST could help my children get into better schools.' These bloody stories are replayed every year with different coins and different people. The crypto space has no new stories, only new victims. Remember: Leverage will kill you, air coins will go to zero, and signal groups are all harvesters. The financial freedom you think you have is often just a ticket for others to harvest you. Never gamble with money you can't afford to lose. $BTC {future}(BTCUSDT) $ETH {future}(ETHUSDT) $BNB {future}(BNBUSDT)
The market holds its ground, selling pressure is weakening, and liquidity is being pulled towards the buyer. If the momentum consolidates above the range of 2.05–2.10, the road upward is open. Target for movement: 2.40 → 2.85.
XRP looks ready to show its character. The long scenario is alive.
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📣【Solar Terms · Heavy Snow|Falling Snow Becomes Poetry, Market Trends Take Shape】❄️📈
Heavy snow has arrived, everything is deeply in winter, but the fire of the market is getting hotter. Looking at the snow sprint on Binance in the picture, it really resembles the current market trend: Steady with strength, ready to take off.🔥
🟡 BTC: After a pullback, it continues to fluctuate upward, with funds' sentiment steadily recovering 🔵 ETH: Healthy structure, active narrative, still the backbone among the mainstream 🟡 BNB: Ecosystem is continuously expanding, trend remains strong
In this "crypto snowy field", patience is power, and trend is direction. Wishing everyone during the Heavy Snow solar term: Falling Snow Becomes Poetry · Stable Force and Clear Mind · Trend Upward · Fearless of the Cold Winter ❄️🚀
The rhythm of eating late-night snacks every day! Yesterday, I took my brothers for a round of late-night snacks! Tonight, the late-night snack continues, and today is a bit lavish! Hunter is all about speed! Fierce! Accurate! The wealth beacon chart that Hunter sent to the brothers will soon bring substantial profits on the short positions! Precise hunting of the 2h level main downward wave! Brothers are enjoying it! 😃
Can't explain it anymore! Brothers, take a look at the picture 1️⃣. Hunter posted the image time This is the power of the five-wave analysis method Fast! Fierce! Accurate! Two mainstream (eth/sol) short wealth logic charts 2️⃣ will be sent out shortly Short positions will yield significant profits 😃
🔴 $KGEN Longs WIPED OUT! A brutal $1.266K long liquidation detonated at $0.17995, sending shockwaves through the chart as overleveraged bulls got sliced out instantly. Momentum flipped bearish in seconds — volatility now primed to explode again #WriteToEarnUpgrade #CPIWatch #CryptoRally