China continues to tighten crypto regulations. Do other countries take notes?
On the eve of 2025, the Chinese government released new laws heavily hurdling cryptocurrency circulation in mainland China. This was by far not the first attack on crypto by China. Is China a role model for other governments that don’t want crypto in their countries?
New legal attacks on crypto in China
On Dec. 31, 2024, China tightened up its crypto regulation once again. This time, the foreign exchange regulator is pushing the banks to flag all cross-border crypto-related transactions and block the parties involved from certain bank services. Now, banks must track the financial behaviour deemed risky based on the identity of the transaction participants, source of funds, trade frequency, and other factors.
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