China's e-CNY is a state-controlled digital currency designed to replace Bitcoin and eliminate private crypto use. With full traceability, no anonymity, and strict bans on trading, it represents a radical shift in monetary power - not innovation.
China has completely banned cryptocurrency trading, mining, and ownership as of June 2025. Learn how the ban works, what penalties apply, why the digital yuan is the real focus, and what this means for residents and foreigners.