Are cryptocurrency exchanges illegal in China?

This stringent stance has been communicated by the authorities, highlighting their determination to clamp down on any form of cryptocurrency activity within the country's borders.

Offshore crypto exchanges that cater to Chinese citizens are no longer considered a safe haven, as the Chinese government has made it clear that they will not tolerate such activities.

Employees of offshore crypto exchanges based in China, as well as any companies providing services to them, are now under scrutiny.

Cryptocurrency transactions in China have been deemed illegal, encompassing even offshore exchanges offering services to Chinese nationals.

The authorities have stated that these individuals and entities will be investigated thoroughly and prosecuted accordingly if found guilty of violating the country's cryptocurrency laws.