Fact Check: Did China Approve XRP National Reserve Worth $40B?

Recently, claims have gone viral on social media platforms, particularly among the XRP community, claiming that Chinese President Xi Jinping announced China’s intent to legalize XRP and acquire $40 billion worth of it for a national crypto reserve.

But is there any factual basis for this sweeping assertion?

Who Made this Claim?

The rumor originated from posts by crypto enthusiasts like Shibo on X, asserting that Xi Jinping made an official declaration about legalizing XRP and making a massive strategic purchase. 

However, these tweets lacked direct citations of any official Chinese government communication or credible news reports.

Fact Check: What Does Evidence Show?

No Official Confirmation or Announcement:

At present, no statement from President Xi Jinping, the People’s Bank of China (PBoC), or state news outlets corroborates the claim that China plans to legalize XRP or invest $40 billion into a crypto reserve featuring XRP. 

China’s Stance on Cryptocurrencies Remains Restrictive

China has maintained a cautious and restrictive policy on cryptocurrencies. Since 2017 and reinforced by a complete ban on crypto trading and mining in 2021. The country is instead focusing on its state-controlled digital yuan (CBDC), not decentralized cryptocurrencies like XRP.

No Strategic Crypto Reserve Announcement for China:

Unlike the United States, which established a strategic bitcoin reserve in early 2025, backed by official executive orders and public announcements, there is no indication that China has created or is planning.

However, a Chinese AI mobility company named Webus International has just filed papers with the SEC. They plan to set up a huge $300 million XRP fund to hold and use XRP as part of their business. 

Key Evidence Table: Coinpedia’s Fact Check

Claim	Coinpedia’s Evidence
Xi Jinping confirmed China will legalize XRP	No official or credible confirmation from Chinese authorities
China will buy $40 billion XRP for national crypto reserve	No evidence; China’s state crypto policy centers on digital yuan
Binance user and social media posts confirm claims	Unverified, no source beyond social media speculation
Chinese company filing $300 million XRP treasury	Corporate, not government-backed, unrelated to national plans

Conclusion

Claim	President Xi Jinping confirmed that China will legalize XRP and purchase $40 billion to create a national crypto reserve.
Verdict	❌ False
Fact-Check by Coinpedia	There is no credible evidence or official statement to support the idea that President Xi Jinping confirmed that China will legalize XRP and purchase $40 billion to create a national crypto reserve. Meanwhile, the claim is based on viral misinformation, not fact.