Authors: Viee, Amelia, Denise, Biteye Content Team
Recently, seven major financial associations in mainland China issued new risk warnings, specifically naming stablecoins, RWA, and various virtual assets such as "air coins" (cryptocurrencies with no real value). While Bitcoin hasn't shown significant fluctuations yet, the recent cooling market sentiment, shrinking accounts, and USDT's off-exchange discount have brought to mind past rounds of policy tightening.
From 2013 to the present, mainland China has been regulating the crypto sector for twelve years. Policies have been implemented time and again, and the market has responded time and again. This article aims to review the market reactions at these key junctures, and also to clarify one question: After the implementation of regulations, will the crypto market fall into silence, or will it gather strength for a renewed surge?
In 2021, regulatory intensity reached its peak. Two landmark events occurred that year, completely reshaping the global cryptocurrency market. In mid-May, the State Council Financial Stability and Development Committee explicitly proposed "cracking down on Bitcoin mining and trading." Subsequently, major mining provinces such as Inner Mongolia, Xinjiang, and Sichuan successively introduced policies to shut down mining operations, resulting in a nationwide "power outage wave for mining machines."
Discord is testing a rewards system called Orbs, giving users points for engaging with ads. These points can unlock digital perks and may help Discord strengthen its business model.
WeatherlyElon Musk is stepping back from his role championing D.O.G.E., citing political distractions and greater-than-expected challenges. He admitted the effort took more time and energy than anticipated, prompting his decision to withdraw.
KikyoExpedia has launched a new AI tool called Trip Matching that turns Instagram Reels into bookable travel plans. By sending a Reel to @Expedia, users receive a full itinerary based on the video’s content, making trip planning easier and faster.
WeatherlyGoogle Photos marks its 10th anniversary with a redesigned AI-powered editor, featuring smarter suggestions, improved "reimagine" tools, and easier album sharing for all users.
CatherineNorwegian brokerage K33 raised $6.2 million to buy Bitcoin and launch a Bitcoin treasury strategy. The company aims to use this to support new services like BTC-backed lending and expand its financial operations in the Nordic region.
Weatherly"Madam Ngo", a fugitive behind a massive crypto fraud, was caught in Thailand after scamming over 2,600 people. She now faces extradition to Vietnam for trial.
AnaisKazakhstan President Kassym-Jomart Tokayev has announced plans for “CryptoCity,” a hub to legalise crypto payments for goods, services, and real estate. The city will act as a regulatory sandbox for digital assets, integrating crypto transactions, digital IDs, and blockchain-based tax systems—advancing Kazakhstan’s digital economy vision.
CatherineThe SEC dropped its lawsuit against Binance after nearly three years of legal action over alleged securities violations. The case was closed as the new SEC leadership began easing its stance on crypto regulation.
WeatherlyTwo Russian crypto entrepreneurs were kidnapped in Buenos Aires and held for a $43,000 crypto ransom. They were assaulted and released within 24 hours after a friend paid. Interpol has issued a red notice for the suspects, who fled to the UAE.
KikyoParis Saint-Germain became the first major sports club to hold Bitcoin in its treasury, converting part of its cash reserves in 2024. The announcement boosted the PSG Fan Token price and reflects the club’s focus on digital finance for its young global audience.
Anais