---
type: city
domain: crypto-regulation
status: stable
tags: ["crypto-regulation", "asia_pacific", "fatf", "banned"]
aliases: ["CN-SZ", "CHN-SZ", "深圳"]
created: 2026-04-13
updated: 2026-04-02
compile_into: ["[[country--china]]"]
sources:
  - name: "People's Bank of China / China Securities Regulatory Commission / China Banking and Insurance Regulatory Commission"
    url: "https://www.pbc.gov.cn"
    type: "official"
  - name: "No crypto framework"
    url: "https://www.pbc.gov.cn"
    type: "framework"
---

# 🇨🇳 [[city--shenzhen|Shenzhen]] (CN-SZ) — Crypto Regulation

> Cryptocurrency activities, including trading and mining, are banned in Shenzhen, China. The People's Bank of China maintains strict prohibitions on crypto operations with no formal regulatory framework for crypto assets.

## Overview

| Field | Value |
|-------|-------|
| Status | Banned |
| Sub-jurisdiction of | [[country--china|China]] |
| Risk Score | 90/100 (Very High Risk) |
| Enforcement Level | Aggressive |
| Region | [[domain--asia-pacific|asia pacific]] |
| Currency | [[entity--cny|CNY]] |

## Tax

| Type | Rate |
|------|------|
| Capital Gains (Personal) | N/A (crypto banned) |
| Capital Gains (Corporate) | N/A (crypto banned) |
| VAT on Crypto | No |
| Mining Tax | No specific guidance |
| Staking Tax | No specific guidance |
| Airdrop Tax | No specific guidance |

No crypto-specific tax guidance available.

## Licensing

| Field | Value |
|-------|-------|
| Required | No |
| Regulator | [[entity--pboc|PBOC]] / CSRC / CBIRC |
| Framework | No crypto framework |
| Ease | N/A |
| Cost | N/A |
| Timeline | N/A months |

Crypto banned nationally. Blockchain enterprise R&D permitted. Banned at city level — see parent CN.

## AML / KYC

| Field | Value |
|-------|-------|
| KYC Required | Yes |
| Travel Rule | Yes |
| [[concept--fatf|FATF]] Member | No |
| FATF Status | fsrb_only |

## DeFi

**Status:** Banned

DeFi platforms and activities are banned under China's strict crypto prohibitions.

## Stablecoins

**Status:** Banned

Stablecoins are banned along with other crypto assets; no regulatory framework exists for stablecoins.

## NFTs

**Status:** Banned

NFT activities prohibited under crypto ban

## Mining

| Field | Value |
|-------|-------|
| Legal | No |
| Electricity Cost | $0.12/kWh |
| Renewable Energy | 15% |
| Climate | temperate |
| Infrastructure | excellent |

Crypto mining is banned nationwide including Shenzhen. Electricity cost data from IEA 2024.

## Geopolitics

| Field | Value |
|-------|-------|
| Stability | stable |
| Sanctions | No |
| Corruption Index | 45/100 |
| Ease of Business | moderate |
| Internet Freedom | not_free |
| Banking Access | very_restricted |

## Enforcement

Crypto activities are banned; enforcement actions target crypto businesses and users

## CBDC Status: pilot

---

*Data source: [Soken Crypto Legal Map](https://soken.io/crypto-map/). Last reviewed: 2026-04-13.*

**Sources:**
- [People's Bank of China / China Securities Regulatory Commission / China Banking and Insurance Regulatory Commission](https://www.pbc.gov.cn)
- [No crypto framework](https://www.pbc.gov.cn)