China’s formal digital currency trading platform

There are only 7 formal digital currency trading platforms in China: Huobi, OKX, Binance China, Matcha, KuCoin, MXC, and BitMart. These platforms have obtained overseas financial licenses and can provide digital currency trading services to Chinese users, but they are not allowed to engage in legal currency transactions or act as agents for other trading platforms.

China’s formal digital currency trading platform

Brief answer:

Currently, there are only the following 7 formal digital currency trading platforms in China:

1. Huobi
2. OKX
3. coin An China
4. Matcha Network
5. Kucoin Network
6. MXC Matcha
7. BitMart BitMart

Details:

In September 2017, the People's Bank of China issued an announcement prohibiting domestic financial institutions and non-bank payments Institutions engage in virtual currency trading. Since then, many digital currency trading platforms have withdrawn from the Chinese market.

In May 2021, ten departments including the People's Bank of China jointly issued the "Notice on Preventing the Risks of Speculation in Virtual Currency Transactions", which clearly prohibits domestic institutions from providing any form of support for virtual currency transactions.

However, the above-mentioned 7 trading platforms have previously obtained licenses from the Hong Kong Monetary Authority or the US Financial Crimes Enforcement Agency, so they can continue to provide services to Chinese users.

It should be noted that these platforms can only provide digital currency trading services and are not allowed to engage in legal currency transactions or act as agents for other trading platforms. In addition, users should abide by relevant laws and regulations and beware of risks when using these platforms.

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