Is crypto betting legal in China?

Crypto betting is strictly illegal in China. The Chinese government maintains a comprehensive ban on all forms of gambling, and this extends to online and crypto-based gambling. The "Notice on Further Preventing and Disposing of the Risk of Hype in Virtual Currency Trading," issued by the People's Bank of China (PBoC) and other government bodies in September 2021, explicitly prohibits all cryptocurrency-related transactions and services, viewing them as tools for illegal activities, including gambling and money laundering.

This has been further reinforced by the "Ban 2.0" in 2025, which aims to close any remaining loopholes. Consequently, any form of crypto betting is not only unregulated but is considered an illegal activity. Engaging in such activities can lead to severe penalties, including the freezing of bank accounts and potential criminal charges under the umbrella of illegal business operations or gambling offenses.

The government's stance is unequivocal: cryptocurrencies are not recognized as legal tender and are seen as a threat to financial stability and social order.