According to @PANewsCN, Beijing police arrested 15 suspects, dismantled eight counterfeiting sites, and seized over RMB 2.5 million in fake banknotes after tracing a suspicious transaction involving a counterfeit banknote master image, as reported by CCTV News. The group—all born after 2000, including minors—learned counterfeiting techniques via overseas software, used printers to produce counterfeit RMB, and accepted payment via virtual currency, per CCTV News. This enforcement aligns with China’s policy that virtual-currency-related business activities and payment services are illegal in mainland China, as stated in the September 24, 2021 joint notice by the People’s Bank of China and nine other agencies, which also targets overseas platforms serving residents in China, per the PBoC joint notice.

According to The Kobeissi Letter, China is considering allowing yuan-backed stablecoins for the first time, following years in which crypto has been illegal and restricted since 2013; source: The Kobeissi Letter post on X dated Aug 20, 2025. The Kobeissi Letter states that this would mark a massive shift in policy if adopted, emphasizing the significance of the consideration itself; source: The Kobeissi Letter post on X dated Aug 20, 2025. The Kobeissi Letter provides no details on timeline, responsible regulator, scope, or implementation, indicating the status is consideration only with no confirmed rollout; source: The Kobeissi Letter post on X dated Aug 20, 2025.

According to Fox News, tensions between China and U.S. Senator Marco Rubio escalated on the 36th anniversary of the Tiananmen Square massacre, with both sides exchanging sharp criticisms regarding human rights and censorship policies (Fox News, June 4, 2025). This geopolitical friction has historically contributed to increased volatility in cryptocurrency markets, as traders often react to signs of regulatory tightening or risk-off sentiment linked to Chinese policy shifts. Market participants should monitor for any regulatory announcements or capital flow restrictions from China, as these could impact bitcoin and altcoin prices.