Crypto Regulation in China

Banned

Tax Information

Capital Gains (Personal)
N/A - crypto trading banned since September 2021
Capital Gains (Corporate)
N/A - all crypto business activities prohibited
VAT on Crypto
No
Staking Tax
N/A
Airdrop Tax
N/A
Mining Tax
--

Licensing & Registration

License Required
No
Regulator
PBOC / CSRC / CBIRC (People's Bank of China / China Securities Regulatory Commission / China Banking and Insurance Regulatory Commission)
Framework
Joint Notice on Further Preventing and Dealing with Risks of Virtual Currency Trading and Speculation (September 2021)
License Types
--
Estimated Cost (USD)
N/A - all crypto activity banned
Timeline
N/A months
Ease of Licensing
Very Complex

AML / KYC

KYC Required
Yes
Travel Rule
Yes
FATF Member
--
FATF Status
--
Suspicious Activity Reporting
--

Mining

Mining Legal
No
Status
Banned
Electricity Cost ($/kWh)
$0.08
Renewable Energy
30%
Climate
Temperate
Infrastructure
Good
Tax on Mining Income
N/A - all crypto business activities prohibited
Notes
Crypto mining is explicitly prohibited or effectively banned in this jurisdiction.

DeFi, Stablecoins & NFTs

DeFi: bannedStablecoins: bannedNFTs: restrictedCBDC: launched - Digital Yuan (e-CNY) in widespread pilot across 26+ cities; integrated into WeChat and Alipay

Soken Services

Legal Opinion
Available | $8,000 - $25,000 | 14 days
Banking
Difficulty: Very Hard | Crypto-friendly banks: none listed
Min. Deposit
$10,000
Fiat Rails
SWIFT

Sources

People's Bank of China CSRC
verified

Frequently Asked Questions

Is crypto legal in China?
Cryptocurrency is currently classified as "Banned" in China.
What is the crypto tax rate in China?
In China, the personal capital gains tax on crypto is N/A - crypto trading banned since September 2021, and the corporate tax rate is N/A - all crypto business activities prohibited.
Do I need a crypto license in China?
No, China does not currently require a specific crypto license, though other financial regulations may apply.
Is crypto mining legal in China?
No, crypto mining is currently banned or illegal in China. Crypto mining is explicitly prohibited or effectively banned in this jurisdiction.
What are the AML/KYC requirements for crypto in China?
Yes, crypto businesses in China must comply with KYC (Know Your Customer) requirements. The FATF Travel Rule is implemented.