PBOC Crypto Policy: What China’s Central Bank Really Does with Digital Currency

When you hear PBOC crypto policy, the set of rules and strategies used by the People's Bank of China to manage digital money and restrict private cryptocurrencies. Also known as China’s digital currency framework, it’s not just about banning Bitcoin—it’s about replacing it. The PBOC doesn’t just regulate crypto. It’s building its own system: the digital yuan, or e-CNY. This isn’t a blockchain coin like Bitcoin. It’s a state-controlled digital version of the Chinese yuan, tracked by the government, usable in apps, and tied to your real identity.

What makes the PBOC crypto policy different? Most countries are still debating crypto. China already moved. It shut down domestic crypto exchanges in 2021. It banned mining operations. It blocked access to foreign platforms like Binance and Coinbase. Meanwhile, it rolled out the digital yuan to over 260 million people in pilot cities—from Beijing to Shenzhen. You can pay for groceries, buses, and even street food with it. No intermediaries. No anonymity. Every transaction leaves a trail.

The PBOC crypto policy isn’t just about control—it’s about replacing the global financial system. By pushing the digital yuan abroad, China wants countries to trade in its currency instead of the US dollar. It’s already happening in places like Thailand, UAE, and Argentina. And while the rest of the world talks about Bitcoin as money, China treats it as a risk. That’s why every post in this collection ties back to this reality: whether it’s how Nigerian traders bypass restrictions, how mining pools adapt to state pressure, or how stablecoins like CADC are built to avoid the same fate as private crypto. You won’t find a single post here that ignores the shadow of the PBOC’s actions. What follows are real stories of people and projects caught between state power and digital freedom. Some are dead ends. Others are workarounds. All of them show what happens when a central bank decides to own the money.