#中国央行 #中国政策 The China-US economic war escalates! 13 Chinese ministries join forces to crack down, banning the US from using virtual currency to settle debts

Recently, China pulled off a momentous move—the central bank took the lead, rallying together the Ministry of Public Security, the Cyberspace Administration, and a total of 13 departments for an unprecedented “joint crackdown.”

Who is the target of this crackdown? On the surface, it’s virtual currencies—those red-hot Bitcoin and Ethereum, especially the so-called “digital dollar” stablecoins. But let’s take a step back and look at the bigger picture: this is really a heavy blow from China amid the escalating China-US economic war, aimed at preventing the US from using virtual assets to “default” or transfer its debt crisis.

Let’s talk about this “joint action by 13 departments.” Anyone who’s worked in the system or dealt with the government knows that for ordinary matters, a joint notice from two or three departments is already a big deal. Ten departments means “high profile.” Thirteen departments joining hands? That’s “national will”—a sign that they’re determined to root out the problem entirely.

Why act now? Because the winds have shifted across the Pacific—and in a very cunning way.

If you’ve been following the news, you’ll notice that Western countries, especially the US, have done a 180-degree turn in their attitude toward virtual currency. They used to shout about cracking down, calling it a tool for money laundering. Now? They’re launching ETFs, discussing adding Bitcoin to national reserves, and those Wall Street sharks have swarmed in like they smell blood. Have they suddenly fallen in love with blockchain technology?

Of course not. When Americans play finance, they have only one objective: harvest the world, and keep US debt afloat.

It’s now October 2025, and the scale of US debt is astronomical. The traditional “printing money” game works, but has huge side effects—runaway inflation, global de-dollarization. At this point, Americans discovered a new continent—virtual currency. This stuff is great! It’s a giant reservoir that can absorb the excess liquidity of overissued US dollars. It’s also a perfect harvesting machine—the price is manipulated by Wall Street, who pump it up to attract global retail investors, then cash out at the top, happily swapping the world’s real wealth for a string of code.

Even more insidious is the “stablecoin,” like USDT. This thing claims to be pegged 1:1 to the US dollar, but it’s basically the “shadow clone” of the dollar. If China allows this to run rampant domestically, it means our currency defenses are breached. All the US has to do is issue a bunch more stablecoins, and they can bypass our foreign exchange controls, swagger into the Chinese market, buy our goods, dilute our wealth, and even transmit their debt crisis to us through this channel.

To put it bluntly, the US wants to use “air coins” to settle their “real debt,” turning the hard-earned money of ordinary Chinese people into a pile of zeroed-out code on their servers.

So, this meeting of 13 departments is not just about arresting some gambling speculators. It’s a self-defense counterstrike for national financial sovereignty.

There’s a particularly telling detail in the meeting: “stablecoins” were listed as the number-one target. Previously, the focus was on cracking down on Bitcoin mining and exchanges; now, the crosshairs are aimed directly at the bridge between fiat and virtual currencies. Why? Because stablecoins are the Trojan horse—dressed up as “stable,” but used for money laundering, illegal fund-raising, and cross-border asset transfers.

Let’s put ourselves in the regulators’ shoes: if you watch hundreds of billions, even trillions, flowing out overseas through these unregulated “underground pipelines,” or mysterious funds flowing in, wouldn’t you be anxious? This isn’t financial innovation—it’s like drilling holes in the dam of national financial security!

Especially now, the China-US rivalry has entered deep waters. The US is strangling our tech, raising trade barriers, and now trying to pull a “sneak attack” in finance. This thunderous action by 13 Chinese ministries is a clear message to the US: Not a chance! You want to use virtual currency to harvest China? No way!

Let’s connect this with other recent major events and the strategy becomes even clearer.

While the financial battlefield is in turmoil, there’s good news from the technology front. You’ve probably heard that our domestically produced 28nm lithography machines aren’t just PowerPoints—they’re actually delivered and running on production lines. In the memory chip sector, Yangtze Memory’s yield rates have matched top international manufacturers. What does this mean? It means the US dream of crippling us with a technology blockade is shattered.

It’s like two people fighting: the US tries to strangle us (chips), but finds we’ve mastered an “iron shirt.” Then they try to pick our pockets (financial harvesting), but we stitch them shut and punch back.

Moreover, our counterpunch is highly strategic: “dual-track parallel.”

Many may ask: if virtual currencies are so bad, why is Hong Kong pushing Web3.0 and stablecoin sandbox regulation? Isn’t that contradictory?

That’s the clever part! This is called “blocking internally, utilizing externally.”

On the mainland, we must keep the financial environment absolutely clean. We can’t let people’s retirement savings or business funds get sucked into a bottomless pit. We must defend the RMB’s sovereign status at all costs. So for any attempt to trade or speculate in virtual currency on the mainland, the stance from these 13 departments is crystal clear: crack down the moment they appear, shut down the entire chain, zero tolerance.

But in Hong Kong, an international financial center and our outward window, we set up a “risk isolation zone,” a testing ground. Hong Kong participates in global digital finance competition, fights for pricing power, and explores how blockchain can serve the real economy—how the RMB can gain a foothold in the digital world. This blocks risks from flowing back to the mainland, while keeping up with global tech development. This is the wisdom of a major nation: bottom-line thinking with strategic vision.

Let me share a heartfelt word with ordinary people.

This massive national move is really to protect your wallets. I know, many see Bitcoin soaring to tens of thousands of dollars, others getting rich overnight, and feel the itch. But friends, at this point in 2025, the virtual currency market is not the wild frontier it once was—it’s now the slaughterhouse of Wall Street predators.

Why is the US relaxing regulation now? Because they’re desperate for someone to take the bag! Their national debt is a bottomless pit, and they need global liquidity to fill it. If you jump in now, thinking you’re buying the dip, you’re really helping to fill the hole of US Treasuries—becoming the unlucky last one holding the bag.

The state saw this coming, which is why we have this thunderous joint action by 13 ministries. It’s not blocking your path to wealth—it’s saving you. Think about it: if the US could really pay off its debt by issuing virtual coins, what’s the point of countries building real industries? Wouldn’t the entire global economic order collapse?

China will never allow that to happen. What path are we on? The path of strengthening the nation through real industry.

Look at what we’re doing while Americans are busy speculating and playing financial tricks: we’re restricting graphite exports, controlling the lifeblood of new energy; we’re breaking through lithography machine technology, shattering semiconductor shackles; we’re advancing the digital yuan, building a truly safe, controllable, and people-serving digital payment system.

This series of moves is perfectly logical: you play with your virtual bubbles, I build my real economy. You try to drown me with bubbles, I build a high wall. You try to strangle me, I become self-reliant.

This China-US economic war has reached a point of no return. The US wants to use virtual currencies as a new weapon in a covert plundering campaign. China’s joint crackdown by 13 ministries is a beautiful defensive counterattack.

What we’re banning is not just a trading product, but a US-manipulated plundering model that could drain the lifeblood of China’s economy.