China Bans All Cryptocurrency Trading and Mining from June 2025
- Policy Shift: Starting June 1, 2025, the Chinese government will completely ban individuals from holding, trading, or mining cryptocurrencies, marking a new phase in digital asset regulation aimed at promoting financial stability and reducing systemic risks.
- Historical Context: Between 2017 and 2020, China accounted for 60% to 75% of the global Bitcoin mining hashrate, but since 2017, the government has implemented a series of bans on ICOs and domestic trading activities, progressively tightening regulations.
- Stablecoin Regulations: New regulations prohibit any private or foreign company from issuing stablecoins linked to the yuan without government authorization, a move that could undermine Hong Kong's ambitions to become a regional crypto hub, reflecting Beijing's strict stance on stablecoins.
- Blockchain Innovation: Despite stringent restrictions on cryptocurrencies, China continues to invest heavily in blockchain technology, promoting state-approved initiatives like the Blockchain-based Service Network (BSN) to explore tokenization of real-world assets, although the legal status of individual crypto ownership remains ambiguous.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 3 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0209 | 0.027 | 0.0316 | 0.0377 | 0.0423 | 0.0484 | 0.053 |
| Fibonacci | 0.027 | 0.0311 | 0.0336 | 0.0377 | 0.0418 | 0.0443 | 0.0484 |
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