Is the currency an legal in the mainland?
Jul 29, 2025 pm 04:03 PMIn mainland China, Binance and other cryptocurrency exchanges operate and trade illegally. 1. Transaction legality: All cryptocurrency exchanges are prohibited from operating in China, and trading through overseas platforms is a violation; 2. OTC trading risks: OTC trading is explicitly prohibited, and participants may face fund freezing or legal liability; 3. Promotion and promotion: It is illegal to divert traffic or provide technical support to Binance and other platforms; 4. Fund security: Informal channel transactions are not protected by law, and there is a risk of fraud or platform run away; 5. Legal liability: Participants may be held administrative or criminally responsible, especially when pre-laundering or illegal fundraising; 6. Technical blockade: Access to Binance requires the use of accent tools, which violates the Cybersecurity Law. Although Binance seeks global compliance, it cannot return to the Chinese market in the short term. Users should choose legal investment channels in China to avoid risks.
Binance official website address:
Binance, one of the world's largest cryptocurrency exchanges, has provided services to Chinese users. But after China's policies tightened, Binance withdrew from the Chinese market in 2017 and closed the money trading channel. However, users may still access Binance International Station (Binance.com) through overseas servers or VPs, but this is an act of bypassing supervision and poses legal risks.
Current legality analysis
Transaction legality: No form of cryptocurrency exchanges are allowed to operate in China, including Binance. Transactions through overseas platforms are still considered as violations.
OTC trading risks: Binance has provided OTC (OTC trading) services, but China explicitly prohibits such behavior. Users and platforms participating in OTC transactions may face fund freezes or legal liability.
Promotion and Promotion: It is illegal to promote, divert traffic or provide technical services to Binance and other platforms in China.
Risks faced by users
Funding security: Transactions through informal channels are not protected by law and may be subject to fraud or the platform will run away.
Legal liability: According to Chinese law, individuals or institutions involved in cryptocurrency transactions may be held administrative or criminally liable, especially when it involves pre-laundering, illegal fundraising, etc.
Technical blockade: China's firewall may block websites and APPs from exchanges such as Binance, and access requires the use of a slew tool, which itself violates China's Cybersecurity Law.
Binance’s compliance efforts and challenges
Binance has actively sought global compliance in recent years, but has not yet obtained permission in mainland China. Its founder Zhao Changpeng (CZ) once expressed respect for the supervision of various countries, but the strict policies of the Chinese market make it difficult for Binance to return in the short term.
in conclusion
In mainland China, Binance and other cryptocurrency exchanges operate and trade illegally. Users should fully recognize risks and avoid participating in related activities. The Chinese government encourages the development of blockchain technology, but clearly opposes the financial application of cryptocurrencies. If you need investment, it is recommended to choose legal financial channels in China.
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