China Replaces Its 2021 Virtual-Currency Notice With a New Nationwide Framework
Eight Chinese authorities issued a new nationwide notice on virtual-currency risks, replacing the 2021 framework and reinforcing prohibitions and enforcement responsibilities. The action renewed China’s restrictive legal environment for Bitcoin trading and related services.
On February 6, 2026, eight Chinese authorities jointly issued a new notice on preventing and handling risks associated with virtual currencies and related activities. The measure replaced the widely cited 2021 notice that had formed a core part of China’s crackdown on cryptocurrency trading and intermediary services.
The new framework reaffirmed the government’s view that virtual-currency speculation threatened financial order and public security, while updating enforcement responsibilities in light of later market developments, including tokenization and other digital-asset activity. The participating bodies included the People’s Bank of China, the National Development and Reform Commission, the Ministry of Industry and Information Technology, public-security and market-regulation authorities, the financial regulator, the securities regulator, and the foreign-exchange authority.
Bitcoin was directly affected even though the notice addressed virtual currencies broadly. China’s national restrictions shape whether residents can access domestic exchange, brokerage, promotional, and intermediary services for bitcoin and how authorities treat related financial activity. Replacing the 2021 notice also mattered historically because that earlier framework had become one of the defining legal landmarks of China’s Bitcoin policy.
The February 2026 action did not reopen Bitcoin trading in China; it reinforced and refreshed the restrictive model. Its significance lies in the state formally updating the nationwide framework rather than simply repeating old warnings, showing that the 2021 crackdown had evolved into an enduring regulatory position.