China Bans Online Marketing of Cryptocurrency Activities: PBOC and Seven Government Departments Issue New Regulations China Bans Online Marketing of Cryptocurrency Activities: PBOC and Seven Government Departments Issue New Regulations

The People’s Bank of China, along with seven other government departments, has issued new regulations titled “Measures for the Administration of Online Marketing of Financial Products,” which explicitly prohibit the online promotion of cryptocurrency activities. The rules, set to take effect on September 30, 2026, classify the issuance and trading of virtual currencies as illegal financial activities and impose stricter compliance requirements on third-party internet platforms.

This regulatory move reinforces China’s long-standing stance against decentralized digital assets, building on previous actions that have progressively restricted cryptocurrency use within the country. Earlier measures included bans on initial coin offerings in 2017, crypto mining operations in 2021 and a comprehensive prohibition on all crypto-related activities — including trading, mining, and individual ownership — that became effective June 1, 2025.

The latest regulations specifically target online marketing channels, aiming to prevent unlicensed entities from promoting financial products through digital platforms. By extending restrictions to promotional activities, Chinese authorities seek to close potential loopholes that might allow indirect exposure to cryptocurrency services despite existing bans on direct transactions and holdings.

Third-party platforms facilitating financial product marketing will now face heightened scrutiny under the new framework. Operators must obtain proper authorization before engaging in any promotional activities related to financial products, with virtual currencies explicitly excluded from permissible content. Non-compliance could result in penalties enforced by the People’s Bank of China and participating regulatory bodies.

These developments occur amid ongoing global debates about the regulation of digital assets, with China maintaining one of the most restrictive approaches among major economies. The country’s regulatory strategy has consistently emphasized financial stability and state control over monetary systems, aligning with its broader promotion of the digital yuan as a sovereign alternative to decentralized cryptocurrencies.

Industry observers note that the September 2026 effective date provides affected platforms and marketers with a transition period to adjust compliance measures. However, the policy direction leaves little ambiguity regarding the permissible scope of cryptocurrency-related activities within China’s digital ecosystem, reinforcing the incompatibility of decentralized virtual currencies with current regulatory expectations.