Is trading cryptocurrency illegal in China?

Clarifying 3 key points!

Many people often ask: "Is trading cryptocurrency legal in China?"

Today, let’s clarify it all at once, don’t be scared anymore:

1. Trading cryptocurrency itself is not illegal

Currently, there are no laws in China that prohibit individuals from holding or trading Bitcoin and other virtual currencies.

The policy attitude can be summarized in one sentence: "Not supported, not guaranteed, risks are borne by individuals." You can buy, you can sell, but if you make a profit, it's yours; if you incur a loss, don't look for the government.

2. The illegal aspect is the method of transferring RMB

The core issue is not “trading cryptocurrency,” but “how to deposit and withdraw funds.”

If you use:

Bank cards, WeChat, Alipay to directly buy and sell cryptocurrencies, you violate the central bank's regulatory provisions on payment institutions. Note: This is not a criminal level “illegal” act; it is an administrative violation that banks must enforce.

3. A frozen bank card ≠ you are illegal

The key point is: what is frozen is the “card number,” not the “person.”

The bank only suspends certain functions of your card. You won’t have a criminal record, you won’t be arrested, and it’s not a crime. The solution is very simple: cancel the card, get a new card, and the problem is solved. Don’t listen to rumors and mistake “risk control” for “going to jail.” Trading cryptocurrency itself is not illegal, using RMB channels is a violation but not a crime; risk control is just a bank action.

If you want to trade, then trade; don’t do it in a gray area.

Operating within regulations is more important than anything else!