Understanding China's Cryptocurrency Stance: Analysis of the Recent Developments and Future Prospects
In September 2021, the People’s Bank of China (PBOC), China’s central bank, in conjunction with nine other state bodies, including the police and the supreme court, issued a statement regarding the country’s stance on cryptocurrency businesses. There, regulators have explicitly stated that all cryptocurrency trading, exchanges, and investments—both crypto-to-crypto and crypto-to-fiat—are prohibited, whether they are carried out through domestic or international platforms. Despite China’s official strong hostilities toward cryptocurrencies, some believe the policy might change soon.
This post was originally published on the Cardozo International & Comparative Law Review on April 24, 2023. The original post can be accessed via the Archived Link button above.
Wan, Zhengchun, "Understanding China's Cryptocurrency Stance: Analysis of the Recent Developments and Future Prospects" (2023). CICLR Online. 76.