中國推出針對銀行的新外匯法規，加強對加密貨幣的打擊力道

中國推出了新的外匯法規，要求銀行加強對加密貨幣相關金融活動的審查。

China has introduced new foreign exchange (forex) regulations, requiring banks to increase scrutiny over cryptocurrency-related financial activities.

中國推出了新的外匯法規，要求銀行加強對加密貨幣相關金融活動的審查。

This move is part of Beijing’s ongoing efforts to clamp down on illegal financial activities linked to digital assets, including underground banking, cross-border gambling, and unauthorized financial transactions.

此舉是北京持續打擊與數位資產相關的非法金融活動（包括地下錢莊、跨境賭博和未經授權的金融交易）努力的一部分。

The State Administration of Foreign Exchange (SAFE) announced the updated rules last week, emphasizing the need for banks to report “risky foreign exchange trading behaviors” as well as closely monitor financial flows associated with digital currency transactions.

國家外匯管理局（SAFE）上周宣布了更新後的規定，強調銀行需要報告“高風險外匯交易行為”，並密切監控與數位貨幣交易相關的資金流向。

Financial institutions are now obligated to observe patterns of activity that suggest illegal cross-border financial dealings, including the conversion of Chinese yuan into digital assets and subsequent exchanges for foreign currencies. These rules are particularly aimed at individuals and entities using digital currencies as a means to bypass China’s strict capital controls.

金融機構現在有義務觀察非法跨境金融交易的活動模式，包括將人民幣轉換為數位資產以及隨後兌換成外幣。這些規則特別針對使用數位貨幣作為繞過中國嚴格資本管製手段的個人和實體。

Financial institutions must also actively identify the origin of funds, evaluate transaction patterns, and take appropriate measures to restrict or halt services for users suspected of violating these rules.

金融機構還必須積極識別資金來源，評估交易模式，並採取適當措施限製或停止對涉嫌違反這些規則的用戶提供服務。

With these monitoring requirements, SAFE seems to be aiming to curb the exploitation of digital assets as a loophole for unauthorized cross-border transactions.

透過這些監控要求，國家外匯管理局似乎旨在遏制利用數位資產作為未經授權跨境交易的漏洞。

While this new rule might make crypto trading even harder in China, Liu Zhengyao, a lawyer from Shanghai-based ZhiHeng law firm, noted that these regulations are designed to reinforce the government’s stance on preventing digital currency activities from undermining financial stability.

雖然這項新規定可能會使中國的加密貨幣交易變得更加困難，但上海智恆律師事務所的律師劉正耀指出，這些規定旨在強化政府防止數位貨幣活動破壞金融穩定的立場。

He explained that the forex rules will make it increasingly difficult for individuals and businesses to evade China’s capital restrictions using digital assets. In his words:

他解釋說，外匯規則將使個人和企業越來越難以使用數位資產來規避中國的資本限制。用他的話說：

“The new rules will provide another legal basis for punishing cryptocurrency trading. It can be foreseen that mainland China’s regulatory attitude towards cryptocurrencies will continue to tighten in the future.”

「新規則將為懲罰加密貨幣交易提供另一個法律依據。可以預見，未來中國大陸對於加密貨幣的監管態度將會持續收緊。

China’s approach to crypto regulation has consistently leaned towards restriction and prohibition. The country first banned initial coin offerings (ICOs) and shut down crypto exchanges in 2017, followed by an intensified crackdown in 2021, which included banning Bitcoin mining and declaring all crypto-related activities illegal.

中國對加密貨幣的監管方式一直傾向於限制和禁止。該國首先在 2017 年禁止首次代幣發行 (ICO) 並關閉加密貨幣交易所，隨後在 2021 年加大力度打擊，其中包括禁止比特幣挖礦並宣布所有與加密貨幣相關的活動非法。

The new forex rules represent a continuation of this regulatory trajectory, with authorities now focusing on the financial intermediaries enabling digital currency transactions.

新的外匯規則代表了這一監管軌蹟的延續，當局現在將重點放在支持數位貨幣交易的金融中介機構。

By holding banks accountable for monitoring and reporting risky trades, the Chinese government aims to further isolate cryptocurrencies from the nation’s financial ecosystem.

透過讓銀行負責監控和報告風險交易，中國政府旨在進一步將加密貨幣與國家金融生態系統隔離。

It is argued that these rules serve as a warning for individuals and institutions attempting to circumvent foreign exchange controls using digital assets.

有人認為，這些規則對試圖利用數位資產來規避外匯管制的個人和機構是一個警告。

Activities involving the purchase of cryptocurrencies with yuan and subsequent conversion to foreign currencies are now explicitly classified as cross-border financial activities under the new framework.

在新框架下，涉及用人民幣購買加密貨幣並隨後兌換成外幣的活動現在被明確歸類為跨境金融活動。

Looking ahead, it is expected that the regulatory space in China will continue to tighten, leaving little room for digital currency-related financial activities to operate without oversight.

展望未來，預計中國的監管空間將繼續收緊，數位貨幣相關金融活動在不受監管的情況下運作的空間已經很小。

Financial institutions will likely increase compliance measures, and traders will face heightened challenges in navigating the regulatory environment.

金融機構可能會加強合規措施，交易者在應對監管環境方面將面臨更大的挑戰。