Buying Stock Tokens by Region: Mainland China, Hong Kong, Taiwan and Southeast Asia
Which stock token venues you can use depends on where you live. The two layers of restrictions, what users in mainland China, Hong Kong, Taiwan and Southeast Asia should check, and how to use our region filter.
Where you live changes which venues you can use for stock tokens and which rules apply. This guide covers what users in mainland China, Hong Kong, Taiwan and Southeast Asia should check before choosing a venue, how issuers and venues restrict regions in practice, and how to use our region filter to rule out venues quickly.
Three separate questions: the venue, the issuer and local law
Whether you can buy depends on three layers. If any one of them says no, you should not trade:
- Venue terms: exchanges list the regions they do not serve. Even if sign-up works, identity verification rejects users whose documents or residence fall in a restricted region, and a venue may open some products (such as spot) but not others (such as derivatives).
- Issuer terms: token issuers specify where residents may not buy or hold their tokens. xStocks and Ondo both exclude the United States and US persons and list other restricted jurisdictions.
- Local law: some places have specific rules for crypto trading, securities-like products or offshore platforms. A venue or issuer not prohibiting you does not mean local law allows it.
The "regional terms" field on our venue pages covers only the first layer: which regions each venue's terms list as restricted. For the second and third layers, read the issuer's product terms and your local regulator's current rules.
What issuer restrictions look like
Issuers often state their restrictions directly on their sites. Opened from a restricted location, Ondo's stock token page shows "Access Restricted" and explains that Ondo Stocks are not registered under the US Securities Act and are not offered or sold in the US, to US persons or in other restricted jurisdictions.
The xStocks site shows a notice on first visit stating that its content is for information only and that xStocks are not intended for distribution in the United States, to US persons or in other prohibited jurisdictions; you must accept it to continue (screenshot in xStocks vs Ondo vs bStocks). The message is clear: even if you can technically buy the token on-chain, a restricted person is outside what the issuer permits.
Mainland China
Under the 2021 notice issued by the People's Bank of China and other authorities on preventing and handling risks from virtual currency trading, virtual-currency business activities are illegal financial activities in mainland China, and offshore exchanges serving mainland residents over the internet are not permitted either. Most large exchanges also list mainland China as a region they do not serve.
We do not provide ways around these restrictions. For mainland residents who want US stock exposure, compliant routes such as QDII funds investing overseas, the cross-boundary Wealth Management Connect scheme or services from licensed institutions are the safer choice.
Hong Kong
Hong Kong licenses virtual asset trading platforms under the Securities and Futures Commission, and the products licensed platforms may offer to retail investors are clearly defined. Tokenized securities are generally still treated as securities in Hong Kong, so selling and trading them must comply with securities rules. Some offshore exchanges list Hong Kong as restricted or open only some products to Hong Kong users, and stock tokens and leveraged contracts are often among the excluded products.
Before choosing a venue, check its Hong Kong status on our venue page and then the venue's own product terms. You can also check the SFC's list of licensed virtual asset trading platforms to see which operate under a local licence.
Taiwan
Taiwan requires virtual asset service providers operating locally to complete anti-money-laundering registration, and the Financial Supervisory Commission continues to adjust the rules; unregistered offshore providers face limits on soliciting business there. Offshore venues treat Taiwan differently, and the same venue may offer spot but not derivatives. Because stock tokens are securities-like, check both the venue's and the issuer's statements about Taiwan carefully.
Southeast Asia
Singapore, Malaysia, Thailand, Vietnam, Indonesia and the Philippines each have their own rules, and they change quickly:
- Singapore: digital payment token services require a licence from the Monetary Authority of Singapore (MAS), with additional limits on retail marketing and leveraged products.
- Malaysia and Thailand: local securities regulators register or license digital asset exchanges, and unapproved offshore platforms may not serve residents.
- Indonesia, the Philippines and Vietnam: have recently introduced or revised frameworks for crypto trading, and requirements for platform licences and permitted products continue to change.
Many exchanges list some of these countries as restricted or direct users to a locally licensed affiliate. Those affiliates usually offer fewer products than the global site, and stock tokens or contracts may not be available.
Use our region filter to rule out venues
- Choose your region in the "Region" selector at the top of the page.
- Open any stock page and tick "Hide venues that may not be available in my region"; the table then shows only venues whose terms do not restrict your region.
- Click a venue name to see the link to its terms and the date we last checked them.
Regional status is compiled from venues' public terms, and venues can change them at any time, so check the latest terms before opening an account. A venue that lists your region as restricted may refuse verification or later require you to close the account.
Are on-chain tokens free of regional limits?
Swapping tokens such as xStocks on Solana or another chain needs no exchange account, so there is no technical regional gate. But as the screenshots above show, issuers restrict holders in some regions, and local law still applies. For the steps and how to avoid fakes, see how to buy stock tokens on Solana.
Frequently asked questions
Can I open an account with a foreign document or address?
Venues decide eligibility from your actual residence and documents. Providing false information breaches their terms, can get the account frozen and complicates access to your assets. We do not recommend any way around regional restrictions.
Can I keep using an account after moving?
Venues usually require you to update your residence and then adjust the products available under the new jurisdiction's rules. After moving to a restricted region, an account may be limited to closing positions and withdrawing.
What does "not yet confirmed" mean on this site?
It means we have not yet confirmed that region's status from the venue's terms. It does not mean the venue is available; read its terms directly.
Summary
- Check local law first, then the venue's and the issuer's terms; consider opening an account and buying only if all three allow it.
- Use our region filter to rule out venues whose terms clearly restrict you.
- Terms and laws change; rely on the latest announcements from venues, issuers and regulators for important decisions.
This guide summarizes public information and is not legal or investment advice.