Best Crypto Cards in China (2026)

China operates the world's strictest anti-crypto regulatory regime. The PBOC (People's Bank of China, Zhongguo Renmin Yinhang, 中国人民银行) leads enforcement, supported by seven co-regulators: the CSRC (China Securities Regulatory Commission, 中国证监会), the NFRA (National Financial Regulatory Administration, 国家金融监管总局, which replaced the former CBIRC in 2023), the Ministry of Finance (财政部), the Supreme People's Court, and others.

The original ban was established in September 2021 when ten agencies jointly declared all cryptocurrency-related business activities illegal. In November 2025, the PBOC singled out stablecoins for an explicit ban, and on February 6, 2026, eight regulators issued a sweeping directive tightening controls on yuan-pegged stablecoins and real-world asset (RWA) tokenization.

Crypto card issuers operating globally, such as Crypto.com and Binance, have withdrawn direct services from mainland China. RedotPay, headquartered in Hong Kong, operates under Hong Kong's separate regulatory framework but does not explicitly market to mainland users.

Hong Kong Exception: Hong Kong maintains a parallel system with licensed crypto exchanges (OSL, HashKey) and is developing stablecoin licensing under the HKMA (Hong Kong Monetary Authority). Beijing tolerates this as a controlled test case, not a policy reversal.

Any crypto card usage from mainland China carries legal risk. This is not a theoretical warning - enforcement actions against individuals have increased since 2024.

Despite banning crypto trading, China taxes crypto gains. The State Taxation Administration (STA, Guojia Shuiwu Zongju, 国家税务总局) classifies cryptocurrency profits under "property transfer income" at a flat 20% rate on net gains.

Example: You acquired BTC worth CNY 10,000 and it appreciates to CNY 30,000. If you spend CNY 30,000 via a crypto card, you owe 20% on the CNY 20,000 gain = CNY 4,000 in tax. This applies even if the transaction occurs offshore.

If the STA classifies your activity as a business (high-frequency trading, large volumes), progressive rates of 5% to 35% apply instead.

USDC funding minimizes the tax burden on the spending side, though the initial acquisition of stablecoins is itself illegal under current law. The paradox of China taxing gains on activities it has banned creates significant legal uncertainty.

Annual tax filing is required for taxable income. The tax year follows the calendar year (January-December). Offshore crypto income is reportable under China's worldwide taxation principle for tax residents.

Mainland Chinese crypto card applications would require a shenfenzheng (居民身份证, Resident Identity Card), the mandatory national ID for all citizens over 16. The 18-digit ID number (shenfenzheng haoma) is the primary identifier. As of July 2025, China also rolled out a National Online Identity Authentication Platform providing digital ID tokens.

For proof of address: utility bills from State Grid (国家电网) or China Southern Power Grid (南方电网), bank statements from ICBC (工商银行), CCB (建设银行), ABC (农业银行), or BOC (中国银行), or rental contracts.

In practice, most offshore crypto card issuers reject mainland Chinese identity documents during KYC. Users with Hong Kong permanent residency (HKID), foreign passports, or overseas residency documents face fewer barriers. Physical cards cannot reliably ship to mainland Chinese addresses through standard channels.

The Fundamental Problem

Crypto card usage in mainland China is not a spending optimization question - it is a legal compliance question. Every step in the process (acquiring crypto, funding a card, spending through it) violates current PRC law. This section exists for Chinese nationals living abroad or those monitoring policy changes.

Card Selection for Chinese Nationals Abroad

• RedotPay (3% cashback on Solana variant, free virtual): Best option for those with HK connections
• KAST (2% cashback, free): Best no-fee starter for GLOBAL coverage
• MetaMask (1%, free): Best self-custody option
• Crypto.com (up to 5%): Best for those who already hold CRO

Spending Scenario: CNY 3,000/month (approx. $420, Chinese National Living Abroad)

CNY 720/year (approx. $100) in cashback. Tax obligations depend on whether you remain a Chinese tax resident.

Why Alipay and WeChat Pay Dominate

China's domestic payment infrastructure is the most advanced in the world. Alipay (支付宝) and WeChat Pay (微信支付) handle over 90% of mobile payments. Physical card payments (including Visa/Mastercard) are used primarily for international transactions or by foreign visitors. UnionPay (银联) is the domestic card network. This means even if crypto cards were legal, the use case within China would be limited to international spending, not daily purchases.

The Digital Yuan (e-CNY)

China's CBDC, the digital yuan (数字人民币, e-CNY), is the government's answer to digital payments innovation. It operates through the existing banking system and is controlled by the PBOC. The e-CNY is the opposite of cryptocurrency in philosophy: centralized, surveilled, and state-issued. Over 260 million wallets have been opened as of 2025.

Global issuers: Crypto.com, KAST, Wirex, and RedotPay list global or APAC coverage. MetaMask offers self-custody spending. In practice, mainland Chinese access to all of these is severely restricted.

Who left: Binance exited China in 2021 after the comprehensive ban. Huobi (now HTX) relocated to Seychelles and no longer serves mainland users. OKX moved headquarters to Seychelles. Infini suspended all card services in June 2025 citing tightening regulations and compliance costs. The exodus was total - no major exchange maintains a mainland Chinese operation.

Local landscape: No domestic crypto exchanges exist legally. P2P trading occurs via Telegram groups and OTC desks but carries criminal prosecution risk. The Shanghai Digital Trade Court has published tax guidance on digital currency transactions, suggesting enforcement awareness is increasing.

Hong Kong-based options: RedotPay operates from Hong Kong. OSL and HashKey hold Hong Kong SFC licenses but serve Hong Kong residents, not mainland users.

ether.fi (3%, credit-based) offers a borrow-to-spend model via staking yield, but requires offshore crypto holdings that mainland residents cannot legally maintain.

China's crypto ban is the most enforced in the world. Unlike other "banned" markets where enforcement is lax, Chinese authorities actively prosecute crypto-related financial activity.