Is Coinbase Making A Surprise Return To China?

A Quiet Change in Onboarding Requirements

Coinbase has reportedly begun accepting Chinese national IDs and mainland residential addresses for account verification, according to user reports that surfaced on July 14. Several users shared screenshots showing successful registrations under the updated process, prompting widespread attention across crypto communities.

Crypto(.)news and others noted that BeInCrypto reported Wu Blockchain, a well-known Asia-focused blockchain media outlet, confirmed the change directly with Coinbase staff. Previously, mainland users were required to submit a Chinese passport alongside a Hong Kong residential address, a combination that effectively excluded most ordinary residents from signing up.

The revised process removes that barrier on the technical side. Users can now complete identity verification using a standard Chinese national ID and a domestic address, with some reports suggesting the process can be completed in under a minute.

Significant Questions Remain Unanswered

Despite the user reports, Coinbase has not issued any official public statement confirming the change. Its identity verification documentation still lists a passport as the only accepted document for China, and marks proof of address as unavailable. That discrepancy has led some observers to suggest the change may reflect a quiet, staged rollout rather than a formal policy update.

Crucially, account registration does not mean unrestricted access. China's blanket ban on cryptocurrency trading, introduced via a notice from the People's Bank of China and nine other government agencies in September 2021, remains fully in force. Mainland residents are still prohibited from trading crypto directly using the Chinese yuan, regardless of which platform accepts their documents.

When BeInCrypto asked Coinbase for comment, a spokesperson pointed to Coinbase International Exchange, noting it allows customers in more than 100 countries to onboard and trade various products, without directly addressing the mainland verification change.

The move, if deliberate, carries notable risk for a Nasdaq-listed exchange. A US-regulated platform easing mainland onboarding attracts a level of regulatory scrutiny that offshore competitors rarely face, particularly given ongoing tensions between Washington and Beijing over financial technology and digital assets. Whether Coinbase is quietly testing appetite ahead of a formal expansion, standardising its global onboarding, or simply serving Chinese nationals living abroad remains unclear. For now, the company has said nothing to resolve that ambiguity.

Sources:
BeInCrypto: Coinbase Reportedly Opens Easier Access for Mainland China
Crypto Briefing: Coinbase Opens Account Registration for Users in China
The Crypto Times: Coinbase Quietly Reopens Access for Mainland China Users