Overview of Global Virtual Currency Trading Platforms
With the continuous development of the cryptocurrency market, numerous virtual currency trading platforms have emerged globally, providing users with services such as buying, selling, storing digital assets, and other related functionalities. These platforms are typically registered and operate in different countries and regions, offering diverse trading pairs and features. Below are some of the major international trading platforms mentioned in public information during the 2025-2026 period:
- Binance (Binance): As one of the world's leading cryptocurrency exchanges, Binance had an asset size of approximately $12.85 billion in 2025, with a 24-hour trading volume of approximately $19.025 billion, offering around 780 trading pairs.
- OKX OKX: OKX OKX is another large international platform, with an asset size of approximately $17.1 billion in 2025, a 24-hour trading volume of approximately $16.05 billion, offering around 620 trading pairs.
- HTX HTX: HTX HTX had an asset size of approximately $4.52 billion in 2025, with a 24-hour trading volume of approximately $31.075 billion, offering around 780 trading pairs.
- Bitget: This platform had an asset size of approximately $60 million in 2025, with a 24-hour trading volume of approximately $12.08 billion, offering around 740 trading pairs.
- Bybit: Bybit had an asset size of approximately $210 million in 2025, with a 24-hour trading volume of approximately $1.59 billion, offering around 550 trading pairs.
- Gate.io: Gate.io offered trading for over 1000 crypto assets in 2025, with its 24-hour trading volume once reaching approximately 7.29 billion RMB, offering around 762 trading pairs.
- KuCoin: As of 2025, KuCoin's user base exceeded 30 million, serving over 220 countries. Its 24-hour trading volume once reached approximately 5.6 billion RMB, offering around 629 trading pairs.
- MEXC: MEXC's 24-hour trading volume once reached approximately 6.93 billion RMB, offering around 767 trading pairs.
Please note that the above data is subject to change over time and is for reference only. The services and compliance offered by each platform vary by region.
Regulatory Policies on Virtual Currency Trading in Mainland China
Since 2021, the People's Bank of China (PBOC) and nine other departments jointly issued a notice explicitly stating that virtual currency-related business activities are illegal financial activities. This includes the exchange between fiat currency and virtual currency, and buying and selling virtual currencies as a central counterparty. Overseas virtual currency exchanges providing services to Chinese residents via the internet also constitute illegal financial activities, and relevant departments will strengthen monitoring and pursue criminal liability.
It is worth noting that in November 2024, the Shanghai Higher People's Court pointed out that "the mere personal holding of virtual currency is not illegal in itself." However, the legal validity of cryptocurrency transactions has been increasingly scrutinized after the 2021 notice, with courts generally holding that such transactions may disrupt financial order and violate public order and good morals, thus contracts should be deemed invalid and not protected by law.
Despite mainland China's strict prohibition policy on virtual currency transactions, some international trading platforms are still mentioned in public discussions. However, users must, in all circumstances, fully understand and strictly comply with the laws and regulations of their respective jurisdictions. Chinese regulatory agencies reiterated in November 2025 that they would form a more systematic and institutionalized crackdown system, potentially strengthening monitoring of virtual currency-related activities through technologies such as big data and artificial intelligence.
Risk Warning and Compliance Advice
Given mainland China's strict regulatory stance on virtual currency transactions, residents of mainland China participating in virtual currency trading face significant legal and compliance risks. International trading platforms may also restrict or prohibit providing services to mainland Chinese users based on their own compliance policies and local laws. Users should:
- Understand legal risks: Be aware that virtual currency trading is an illegal financial activity in mainland China, and participation may lead to legal sanctions.
- Pay attention to platform policies: International platforms may adjust their service policies for users in specific regions based on regulatory requirements; users should consult official platform announcements.
- Be vigilant about information security: In all circumstances, be wary of false information and fraud risks, and protect personal digital assets.
This site does not provide any guidance on circumventing regional restrictions. All users must comply with local laws and regulations and refer to official announcements and legal provisions.
