Accept Cryptocurrency in China: What's Really Happening in 2025

When you hear accept cryptocurrency in China, the idea seems impossible. Also known as crypto payments in China, it’s officially banned by the People’s Bank of China (PBOC), yet millions still use digital assets every day. The government doesn’t allow banks, merchants, or payment platforms to process Bitcoin, Ethereum, or any other crypto. But that doesn’t mean it’s gone. It just went underground.

What you won’t see in official reports is the $86.4 billion in annual crypto volume moving through peer-to-peer platforms, encrypted apps, and cash-based deals. Businesses in Shenzhen, Guangzhou, and Shanghai quietly take crypto for rent, services, or goods—often converting it to stablecoins like USDT before turning it into yuan. This isn’t a fringe activity. It’s a survival tactic for people who need faster, cheaper ways to send money, protect savings from inflation, or trade globally without government interference. Underground crypto trading, a network of decentralized, informal transactions has become the real story. And it’s growing, not shrinking.

The PBOC’s rules are clear: no crypto exchanges, no crypto ATMs, no crypto as payment. But enforcement is messy. Most people aren’t arrested for holding Bitcoin—they’re just told to stop. The real danger isn’t jail, it’s losing money to scams, frozen wallets, or unregulated platforms that vanish overnight. Crypto risks China, include lack of legal recourse, no consumer protection, and sudden regulatory crackdowns. Yet, for many, the risks are worth it. Why? Because traditional banking is slow, expensive, and sometimes inaccessible.

What you’ll find in the posts below aren’t theoretical guides or opinion pieces. These are real stories: how a small tech shop in Chengdu takes USDT for hardware repairs, how a freelancer in Beijing uses P2P exchanges to get paid in crypto and cash out through trusted contacts, how traders avoid detection using mixing services and local cash meetups. You’ll see the tools they use, the mistakes they made, and the quiet workarounds that keep the system alive. There’s no official approval here—just people finding ways to use money the way they need to, even when the rules say they can’t.