When cryptocurrency ban China, a sweeping government crackdown on digital asset trading and mining that began in 2021. Also known as China's crypto prohibition, it didn't just restrict coins—it upended the entire global crypto ecosystem. Before 2021, China was the world’s biggest hub for Bitcoin mining and crypto trading. Over 70% of Bitcoin mining happened there, and millions of Chinese citizens traded on platforms like Huobi and OKX. Then, overnight, it all changed.
The Chinese government didn’t just slow things down—they shut it all down. In September 2021, they declared all cryptocurrency transactions illegal, ordered banks to cut off crypto services, and forced mining operations to shut. This wasn’t just about control—it was about protecting the yuan and stopping capital flight. Mining rigs were seized, data centers were powered off, and exchanges like Binance and Huobi scrambled to move their operations out of the country. The crypto mining ban China, a core part of the crackdown that targeted energy-intensive blockchain operations. Also known as crypto mining prohibition, it forced miners to relocate to places like the U.S., Kazakhstan, and Nigeria. Meanwhile, the China crypto regulation, a strict, top-down system that banned private crypto use while pushing the digital yuan. Also known as digital currency policy, it made clear: the state controls money, not the market. The result? Crypto prices dropped hard, but global adoption didn’t stop—it just moved. Countries like Hong Kong, Singapore, and the UAE stepped in to attract displaced traders and developers.
What you’ll find in the posts below are real stories from this upheaval: how exchanges like Asproex and WenX adapted to tighter global rules, how scams like SQUID and BFICGOLD exploded in the chaos, and how international monitoring tools like the Travel Rule and FATF standards became essential to track money fleeing China. You’ll see how banks and regulators worldwide reacted, how fake airdrops preyed on confused users, and why even today, the shadow of China’s ban still shapes crypto safety, compliance, and trust. This isn’t history—it’s the foundation of every crypto rule you see today.
As of 2025, China has banned all cryptocurrency activities including trading, mining, and ownership. Learn how the legal crackdown works, why it happened, and what alternatives like the digital yuan mean for users.