Overview of Mainland China's Virtual Currency Regulatory Policies
Since September 2021, ten departments including the People's Bank of China (PBOC) jointly issued a notice, explicitly defining virtual currency-related business activities as illegal financial activities and strictly prohibiting them. This ban was further reiterated and strengthened in May 2025 and February 2026, explicitly prohibiting the trading and mining of major cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH). Overseas virtual currency exchanges providing services to residents within mainland China via the internet are also considered illegal financial activities.
This means that in mainland China, any virtual currency trading platform claiming to be "legitimate" does not comply with regulatory requirements. Although reports indicate that individual ownership of cryptocurrencies may not be illegal, related trading activities are not protected by law and may face the risk of contract invalidation. Illegal and criminal activities such as money laundering, illegal fundraising, fraud, and pyramid schemes using virtual currencies will be severely cracked down upon.
In contrast to mainland China, the Hong Kong Special Administrative Region established a "Virtual Asset Service Provider (VASP) license" system in 2023, allowing licensed virtual asset platforms to provide trading and custody services to retail and institutional investors within a compliant framework.
Global Virtual Currency Market Tracking Tools
Due to mainland China's regulatory policies, residents within the country cannot participate in virtual currency trading through legal channels. However, for investors and enthusiasts who wish to understand the dynamics of the global virtual currency market, there are still various international market tracking tools available. These tools primarily provide real-time prices, K-line charts, technical indicators, market data, and industry news, but do not offer trading services.
- CoinMarketCap: As a globally renowned cryptocurrency data platform, CoinMarketCap collects real-time prices, market capitalization, trading volume, and other data for tens of thousands of cryptocurrencies, and provides exchange rankings and market analysis.
- TradingView: This is a powerful charting and social trading platform that covers not only cryptocurrencies but also stocks, futures, forex, and other assets. Users can utilize its rich K-line charts, technical indicators, and analysis tools to track market trends.
- DEXScreener: Focused on the decentralized exchange (DEX) market, DEXScreener provides real-time performance of on-chain tokens, liquidity pool data, and trading pair information, which is particularly useful for users interested in the DeFi ecosystem.
- Investing.com: This platform provides real-time quotes, prices, and trends for over 1700 crypto digital currencies, as well as traditional financial market data.
- AICoin: Developed by a Chinese team, it provides comprehensive, real-time market and data analysis, as well as exchange news announcements.
Please note that when using any international market tool, users should verify its compliance and abide by the laws and regulations of their jurisdiction. For the latest market dynamics and regulatory information, please follow Svmuu's continuous reports.
Risk Warning
Investors should be fully aware of the high volatility and potential risks in the virtual currency market. Mainland China's regulatory policies explicitly prohibit virtual currency-related business activities, and participation may lead to legal risks and asset losses. Any individual investment in virtual currencies and related derivatives that violates public order and good morals may result in the relevant civil legal acts being deemed invalid, and losses must be borne by the individual.
