Is BTC banned in China?

I've been hearing rumors that Bitcoin, or BTC, has been banned in China. Could you please clarify this for me? It seems like such a significant decision if it's true, given China's influence in the global economy. Is there an official statement or policy document that outlines this ban? I'm also curious about the reasons behind it, if indeed there is a ban. Is it due to concerns about financial stability, money laundering, or something else? It would be great if you could provide some context and insights into this matter. After all, cryptocurrency is a rapidly evolving field, and any changes in regulations, especially in a country like China, could have significant implications for the industry.