📢 Gate Square Exclusive: #WXTM Creative Contest# Is Now Live!
Celebrate CandyDrop Round 59 featuring MinoTari (WXTM) — compete for a 70,000 WXTM prize pool!
🎯 About MinoTari (WXTM)
Tari is a Rust-based blockchain protocol centered around digital assets.
It empowers creators to build new types of digital experiences and narratives.
With Tari, digitally scarce assets—like collectibles or in-game items—unlock new business opportunities for creators.
🎨 Event Period:
Aug 7, 2025, 09:00 – Aug 12, 2025, 16:00 (UTC)
📌 How to Participate:
Post original content on Gate Square related to WXTM or its
Are new bans for crypto coming in China: It spread quickly.
Although news that China has once again banned cryptocurrencies has rapidly spread on social media since last night, it has still not been verified.
It was reported that China had banned mining activities, cryptocurrency transactions, and related services. However, the same bans were also present in the comprehensive law introduced in 2021. Some organizations in the Chinese media are commenting that "There is no new ban." The lack of a statement from official authorities confirms this situation.
The history of prohibitions...
China first initiated cryptocurrency bans in 2013. At that time, since Bitcoin was the only cryptocurrency, banks in the country were prohibited from facilitating Bitcoin transactions.
The second major step came in 2017. Cryptocurrency exchanges were completely banned in the country. The newly growing exchange of the time, Binance, also moved outside of China with this ban.
The biggest blow in 2021
The biggest blow China dealt to the crypto world came in 2021. During that period of rising prices, when Bitcoin was breaking record after record, all activities related to cryptocurrencies were completely banned in the country.
It continues despite everything
However, it seems that the bans have not been able to hinder Chinese cryptocurrency investors significantly. Despite many miners migrating to Russia, Kazakhstan, and the USA due to the 2021 bans, China still maintains its position as one of the countries with the highest cryptocurrency mining activities in the world.
It is also known that DeFi platforms are heavily used by the Chinese and that crypto transactions are made in this way...
Those who do not want to conduct crypto transactions over the internet prefer Hong Kong. Positioned as China's gateway to the world of cryptocurrencies, Hong Kong is a place where Chinese citizens personally make crypto transactions face-to-face... It is also known that Chinese citizens who conduct their transactions legally and transfer their cryptocurrencies to cold wallets later return to their home country.
Therefore, it is stated that China, which already applies strict bans, is not implementing a new wave of bans. Although many crypto activities and transactions are prohibited in China, ownership is not included in these bans. In other words, there is no problem for a Chinese citizen to own cryptocurrencies.
Published: August 4, 2025 11:08Last Updated: August 4, 2025 11:19