Overview of Mainland China's Virtual Currency Regulatory Policies
According to current regulations in Mainland China, there are no "domestic virtual currency legitimate trading platforms." The Chinese government has adopted a strict prohibition policy on virtual currency trading and related activities.
- Comprehensive Prohibition of Virtual Currency-Related Business Activities: In September 2021, the People's Bank of China and nine other departments jointly issued a notice, explicitly defining all virtual currency-related business activities (including exchange between fiat currency and virtual currency, exchange between virtual currencies, buying and selling virtual currencies as a central counterparty, providing information intermediary and pricing services, etc.) as illegal financial activities, which are strictly prohibited and will be shut down according to law. The notice also clarified that overseas virtual currency exchanges providing services to residents within China via the internet also constitute illegal financial activities.
- Continued Crackdown and Enhanced Regulation: In November 2025, the People's Bank of China led a meeting with 13 departments, reiterating that virtual currency-related business activities are illegal financial activities and emphasizing the risks of money laundering and fundraising fraud associated with stablecoins. In February 2026, the People's Bank of China and seven other departments again jointly issued a notice, maintaining their previous policy stance and reiterating that conducting virtual currency-related business activities within China constitutes illegal financial activities, and overseas entities and individuals are prohibited from illegally providing related services to domestic entities.
- Exchanges Delisting Mainland Users: Major cryptocurrency trading platforms such as HTX, Binance, and OKX successively announced their withdrawal from the Mainland China market before the end of 2021, ceasing to provide services to Mainland Chinese users and conducting orderly delistings.
- Legal Status of Individual Virtual Currency Holdings: According to an article published by the Shanghai Higher People's Court in November 2024, merely holding virtual currency by individuals is not illegal. However, any activities involving trading, exchange, or financing may cross legal red lines.
Regulatory Framework of the Hong Kong Special Administrative Region
Unlike Mainland China, the Hong Kong Special Administrative Region has established a licensed regulatory system for virtual assets under the premise of "structured and regulated." The Securities and Futures Commission (SFC) of Hong Kong has granted virtual asset trading platform licenses, allowing compliant platforms to provide services to retail and institutional investors, and has implemented anti-money laundering and client asset protection measures.
Overview of International Virtual Currency Trading Platform Fees
Given Mainland China's regulatory policies, the international virtual currency trading platforms and their services described below are not applicable to residents of Mainland China. Overseas platforms providing services to residents within China constitute illegal financial activities and pose legal and financial risks. Please ensure compliance with local laws and regulations.
The main types of fees on virtual currency trading platforms include maker fees, taker fees, deposit fees, and withdrawal fees. Maker fees typically apply to limit orders that add liquidity to the market, while taker fees apply to orders that are executed immediately.
- Binance: Spot trading maker/taker fees are typically 0.1%. Fiat currency deposit and withdrawal fees vary by payment method and region.
- OKX: Spot trading maker fees are approximately 0.08%, and taker fees are approximately 0.1%.
- Bybit: Spot trading maker fees are approximately 0.2%, and taker fees are approximately 0.15%. Credit/debit card deposits usually incur a 2%-3% fee.
- KuCoin: Spot trading maker fees are approximately 0.1%, and taker fees are approximately 0.1%. Credit/debit card deposit fees typically range from 1.5%-3.5%.
- Kraken: Spot trading maker fees are approximately 0.25%, and taker fees are approximately 0.4%. Credit/debit card deposit fees are higher.
- Cryptomus: Maker fees up to 0.04%, taker fees up to 0.7%.
- Flipster: Spot taker fees are approximately 0.05%, and perpetual contract taker fees are approximately 0.05%.
- Robinhood Crypto: Claims zero commission, but actual costs are reflected in the spread, estimated to be around 0.85%.
Please note that specific rates may vary depending on trading volume, platform token holdings, VIP level, and platform activities. The values above are general references. Users should carefully review the latest fee structures and terms when choosing a platform.
