China Bans Holding of Bitcoin and All Cryptocurrencies, Report Says
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China reportedly banned individual crypto holdings, intensifying its crackdown and boosting the digital yuan agenda. Bitcoin fell below key support at $107K, with RSI nearing oversold territory and volume showing limited recovery. Altcoins like XRP, Solana, and Cardano posted deeper losses, while stablecoins held steady amid growing regulatory uncertainty. On May 30, 2025, China introduced a new nationwide ban prohibiting the personal ownership of cryptocurrencies, including Bitcoin, according to a report by Binance. The updated policy expands earlier restrictions on crypto trading and mining, now outlawing even individual holdings of digital assets. The move signals a deeper commitment by Chinese authorities to centralize financial control and promote the adoption of the digital yuan, the country’s state-backed central bank digital currency (CBDC). Bitcoin Dips Below Key Support After China Crypto Ban Report Following the unverified report about China banning personal crypto holdings, Bitcoin’s price dropped sharply, confirming immediate market reaction. As shown on the 4-hour BTC/USD chart from May 30, 2025, Bitcoin declined to $105,488, falling … The post China Bans Holding of Bitcoin and All Cryptocurrencies, Report Says appeared first on Coin Edition .
Source: Coin Edition
