Cryptocurrency activities, including trading and mining, are banned in Shanghai, China. The People's Bank of China maintains strict prohibitions on crypto operations with no specific regulatory framework for crypto assets.
| Status | Banned |
| Risk Score | 70/100 (High Risk) |
| Region | asia pacific |
| Currency | CNY |
| Capital Gains (Personal) | N/A (crypto banned) |
| Capital Gains (Corporate) | N/A (crypto banned) |
| VAT on Crypto | No |
| Staking Tax | No specific guidance |
| Airdrop Tax | No specific guidance |
No crypto-specific tax guidance available.
| Required | No |
| Regulator | PBOC / CSRC / NFRA |
| Framework | No crypto framework |
Crypto trading and mining banned nationally. Blockchain tech development permitted. Banned at city level — see parent CN.
Crypto activities are banned; enforcement actions target crypto businesses and users
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | Yes |
| FATF Status | member |
| FATF Body | FATF |
| Suspicious-Activity Reporting | Yes |
Status: Banned
DeFi platforms are banned under China's comprehensive crypto prohibition. The Feb 2026 eight-agency notice additionally banned real-world asset (RWA) tokenization activities within China, and prohibited foreign entities from providing such services to domestic entities. No DeFi licensing or framework exists.
Status: Banned
Stablecoins are explicitly banned in China. The PBOC Nov 2025 multi-agency statement first explicitly classified stablecoins as virtual currency subject to the ban. A Feb 6 2026 eight-agency notice banned yuan-pegged stablecoin issuance offshore: 'No entity or individual, whether domestic or foreign, may issue stablecoins pegged to the Renminbi overseas.' No legal framework permits stablecoin issuance or use.
Status: Banned
NFT activities prohibited under crypto ban
| Legal | No |
| Electricity Cost | $0.12/kWh |
| Renewable Energy | 15% |
| Infrastructure | excellent |
Crypto mining is banned nationwide including Shanghai. Electricity costs are relatively high compared to global averages. Infrastructure for data centers and internet connectivity is excellent.
| Stability | stable |
| Sanctions | No |
| Corruption Index | 45/100 |
| Banking Access | very_restricted |
Risk Factors
China maintains strict capital controls and internet censorship. Crypto businesses face severe restrictions and banking access is very limited. Political environment is stable but tightly controlled.
Cryptocurrency activities, including trading and mining, are banned in Shanghai, China. The People's Bank of China maintains strict prohibitions on crypto operations with no specific regulatory framework for crypto assets.
Shanghai is classified by FATF as: member.
KYC is mandatory for crypto businesses.
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Explore IT Services →Last reviewed: 2026-06-01 · Data source: Soken Crypto Legal Map
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