It is not illegal to do foreign exchange, but it is not protected by law.

If the parties manipulate funds on foreign platforms, they may purchase or trade securities, futures, insurance, foreign exchange and other businesses that have not been approved by the relevant national competent authorities, which constitutes an illegal business crime and other serious market disruptions. Those who engage in illegal business operations that disrupt market order and the circumstances are serious shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also or solely be fined not less than one time but not more than five times the illegal income. If the circumstances are particularly serious, the offender shall be sentenced to fixed-term imprisonment of not less than five years, and shall also be fined not less than one time but not more than five times the illegal income, or his property shall be confiscated.

Foreign exchange, the English name is Foreigncurrency, is maintained by the monetary administration (central bank, monetary management agency, foreign exchange stabilization fund and Ministry of Finance) in the form of bank deposits, Ministry of Finance treasury bills, long-term and short-term government securities, etc. of claims that can be used when the balance of payments is in deficit.