China denies new crypto ban amid market rumours

China has dismissed recent rumors of a renewed cryptocurrency ban, confirming that no new restrictions have been introduced.

Unverified reports on August 3, 2025, had suggested a policy shift, but authorities clarified that the country’s stance remains unchanged since the 2021 ban on crypto trading, mining, and related financial services.

The rumors, which spread via social media and unverified platforms, briefly impacted markets, causing dips in Bitcoin and Ethereum before prices stabilized. Bitcoin later recovered, closing at $114,472.47 with a $2.28 trillion market cap.

A regulatory source reiterated that no official announcement had been made. The People’s Bank of China and other key agencies have remained silent, further casting doubt on the credibility of the claims.

Crypto ownership remains legal in China, though trading and mining are still prohibited. Analysts warn that some reports have blurred this distinction, fueling unnecessary confusion.

Despite the rumors, no new regulations have been confirmed, and existing rules remain in effect.

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