Title: China (CN) · Jurisdiction · EthSystems

URL Source: https://original.es-internal.pages.dev/jurisdictions/cn-crypto-ban/

Markdown Content:
---
description: China holds one of the world's strictest stances: cryptocurrency trading, mining, and payment services have been banned since 2021, and related business activity is treated as illegal. In parallel the state promotes permissioned enterprise blockchain (the Blockchain Service Network, BSN) and its CBDC, the e-CNY, under full data localisation and state oversight, so privacy features that limit government visibility are not viable. China is prohibitive toward public crypto and directive about permissioned and CBDC use.
title: China (CN) · Jurisdiction · EthSystems
image: https://original.es-internal.pages.dev/og.png
---

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#### Key regulations

* 2021 Notice on Further Preventing and Dealing with Crypto Trading Risks
* Anti-Money Laundering Law
* Data Security Law / PIPL

#### Entities

* financial institutions
* payment providers
* exchanges
* miners

#### Activities

* trading
* mining
* payments
* token issuance

> Developer orientation. Not legal advice.

## What to Watch

* Enforcement extending to offshore platforms serving Chinese users.
* NFTs and DeFi sit in a gray area.
* Hong Kong's separate, permissive regime vs mainland capital-flow controls.

## See also

* [Jurisdiction: Hong Kong SAR (HK)](/jurisdictions/hk-crypto-licensing/)
* [Blockchain Service Network (BSN)](https://bsnbase.io/)

Also in APAC

* [Hong Kong SAR (HK)](/jurisdictions/hk-crypto-licensing/)

#### Referenced by

jurisdictions1
* [Hong Kong SAR (HK)](/jurisdictions/hk-crypto-licensing/)

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