Checked the comments section, and a lot of friends think China hasn’t banned investing in virtual currencies. On September 24, 2021, the People’s Bank of China and nine other departments issued the ‘Notice on Further Preventing and Handling the Risks of Virtual Currency Trading and Speculation,’ which clearly states: - Virtual currency-related business activities are classified as illegal financial activities and are strictly prohibited; - Overseas exchanges providing services to domestic residents via the internet are also considered illegal financial activities; - Civil legal actions related to virtual currency investment and trading are invalid. The Shanghai High Court mentioned in a 2024 case: ‘Virtual currency, as a virtual commodity, has property attributes and is not prohibited by law. Simply holding virtual currency as an individual is not illegal.’ So, holding is not prohibited, but trading is strictly banned. The most important thing is, when confiscating illegal gains is profitable, they’ll definitely confiscate it