Bitcoin in China: rules, tax and how it's priced
Bitcoin's price in China is usually expressed in yuan (renminbi, ¥ or CNY) per 1 BTC. Crypto trading and related services are illegal in mainland China, so the figures on this page are for information only. They show the international BTC/USD price converted to CNY at today's exchange rate, not a price available on any lawful mainland platform.
Is bitcoin legal in China?
Not for trading. In September 2021 the People's Bank of China (PBOC) and other agencies declared virtual currency business activities illegal financial activity, and authorities ordered a nationwide shutdown of crypto mining the same year. On 6 February 2026 the PBOC and seven other agencies issued Notice No. 42 [2026], which replaced the 2021 notice and kept the ban. It covers exchanging crypto for yuan or other crypto, running trading venues, pricing and information services, token sales and crypto-linked financial products. It also bans unapproved tokenisation of real-world assets, unapproved issuance of yuan-pegged stablecoins offshore, and overseas platforms providing these services to mainland residents. Bitcoin is not legal tender.
Holding, penalties and tax
The rules target business activity such as trading services, issuance, mining and payment support. Chinese regulators have long warned that individuals who invest in virtual currencies do so at their own risk and may not get legal protection for losses. Running an illegal crypto business, or knowingly helping an offshore provider serve mainland users, can lead to administrative or criminal penalties. China has no crypto-specific tax rules for individuals. Because trading is illegal on the mainland, this page does not describe ways to buy bitcoin there.
Banks, payments, the e-CNY and Hong Kong
Banks and payment companies may not open accounts, transfer or settle funds, or provide other services for crypto activity, and internet platforms may not host, market or advertise it. China's official digital currency is the PBOC's own e-CNY (digital yuan), which is legal tender and has nothing to do with bitcoin. Hong Kong is treated separately. It runs its own licensing system: the Securities and Futures Commission licenses virtual asset trading platforms, and the Hong Kong Monetary Authority has run a licensing regime for stablecoin issuers since August 2025. Hong Kong's rules do not change the position for mainland residents.
Legal and tax information last reviewed October 2026. Crypto rules change quickly — check with the regulator or tax authority, or a qualified adviser, before acting. This is not tax, legal or investment advice.