{"id":6686,"date":"2025-08-04T13:35:00","date_gmt":"2025-08-04T13:35:00","guid":{"rendered":"https:\/\/bitunikey.com\/news\/did-china-ban-crypto-again-heres-why-the-myth-wont-die\/"},"modified":"2025-08-04T13:35:11","modified_gmt":"2025-08-04T13:35:11","slug":"did-china-ban-crypto-again-heres-why-the-myth-wont-die","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/did-china-ban-crypto-again-heres-why-the-myth-wont-die\/","title":{"rendered":"Did China ban crypto (again)? Here\u2019s why the myth won\u2019t die"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">The social media rumor mill once again started circulating news of a supposed fresh Chinese ban on all crypto assets.<\/p>\n<div id=\"cn-block-summary-block_98727f60bc903bea791f96255a725323\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Rumors on social media suggest that China bans crypto<\/li>\n<li>Similar rumors circulated in the past<\/li>\n<li>There were no notable changes in Chinese crypto policy<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>If you follow the crypto community on X, it seems like China bans crypto every few months. On August 3, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/unusual_whales\/status\/1951827359159443485\" target=\"_blank\">several<\/a> social media accounts reported a supposed Chinese ban on crypto assets. These accounts claimed that the ban applies to both crypto trading and mining, as well as \u201crelated services.\u201d<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">X post suggesting that China banned crypto, with an attached community note | Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/FirstSquawk\/status\/1951825229917176215\" target=\"_blank\">X<\/a><\/figcaption><\/figure>\n<p>Still, it didn\u2019t take long for users to point out past instances of supposed Chinese crypto bans. One user shared an overview of reports from 2013 to 2021, showcasing how rumors can have a significant impact on crypto.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">china banning bitcoin is basically a crypto bear market tradition at this point.<br \/>same plot, new headline. every cycle, same FUD rerun.<br \/>let&#8217;s take a walk down memory lane:<\/p>\n<p>\u2022 2013 \u2013 china says &#8220;no BTC for banks&#8221;  bitcoin hits $1,150<br \/>\u2022 2014 \u2013 fake news ban panic , $430 dip<br \/>\u2022\u2026 <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/t.co\/islFEVQtyd\" target=\"_blank\">pic.twitter.com\/islFEVQtyd<\/a><\/p>\n<p>\u2014 MEGATRON (@yasinyunusa) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/yasinyunusa\/status\/1951959547792306643?ref_src=twsrc%5Etfw\" target=\"_blank\">August 3, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>In reaction, some users shared a <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/Profoneur\/status\/1951905482966262201\" target=\"_blank\">humorous meme<\/a> referencing South Park. The meme pokes fun at the crypto market\u2019s irrational reaction to supposed big regulatory news from China. <\/p>\n<figure class=\"wp-block-image size-full\"><picture loading=\"lazy\" decoding=\"async\" class=\"wp-image-14402546\"><source type=\"image\/webp\" ><\/source><br \/>\n<img loading=\"lazy\" decoding=\"async\" width=\"555\" height=\"639\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2025\/08\/1754314500_348_Did-China-ban-crypto-again-Heres-why-the-myth-wont.png\" alt=\"Cropped South Park-themed meme showcasing the supposed Chinese crypto ban\">\n<\/picture><figcaption class=\"wp-element-caption\">Cropped South Park-themed meme showcasing the supposed Chinese crypto ban | Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/Profoneur\/status\/1951905482966262201\" target=\"_blank\">X<\/a> <\/figcaption><\/figure>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Why the Chinese crypto ban rumor won\u2019t die<\/h2>\n<p>In reality, top Chinese regulators, led by the People\u2019s Bank of China, implemented a <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/china\/china-central-bank-vows-crackdown-cryptocurrency-trading-2021-09-24\/\" target=\"_blank\">full ban<\/a> on all crypto transactions and mining in September 2021. Authorities cited concerns over energy usage as the main reason for the mining ban. <\/p>\n<p>In addition, regulators were concerned about crypto\u2019s use in illegal activities, as well as its role in facilitating capital flight. The country subsequently cracked down on illegal mining operations, pushing many of them to countries like Kazakhstan. Still, illegal mining operations persist in China, and crypto is still being used in bribery.<\/p>\n<p>For crypto markets, regulatory news often has the biggest impact. Huge economies like China have the potential to significantly influence demand for crypto assets. At the same time, few traders outside of China follow its politics closely enough to verify unproven rumors.<\/p>\n<p>For this reason, social media users looking for engagement will likely report that China banned crypto again in a few months.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The social media rumor mill once again started circulating news of a supposed fresh Chinese ban on all crypto assets. Summary Rumors on social media suggest that China bans crypto&hellip;<\/p>\n","protected":false},"author":1,"featured_media":6687,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=6686"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6686\/revisions"}],"predecessor-version":[{"id":6688,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6686\/revisions\/6688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/6687"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=6686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=6686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=6686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}