The crackdown on cryptocurrency speculation on Chinese platforms continues.

Speculative activities in cryptocurrency are increasingly emerging on social media and e-commerce platforms in China such as Xiaohongshu and Taobao, posing new challenges for regulators despite the tightening measures by the People's Bank of China. This trend complicates law enforcement and highlights the need for a coordinated strategy among multiple stakeholders to control the risks of speculation and illegal trading.

China's tightening campaign, which began in 2017, has continuously adapted to new digital trends. According to CoinMarketCap, Bitcoin (BTC) is priced at $91,284.06, with a market cap of $1.82 trillion, a 24-hour trading volume of $37.36 billion, and a supply nearing the maximum of 21 million. Over the past 90 days, BTC has decreased by 16.15%. Domestic tightening could push speculative activity to the international market, while the deployed technological measures could promote innovation in management technology.