《Lawyer: How Do Chinese Courts Determine Virtual Currency Contract Transactions?》 (Author: Lawyer Liu Lei's Team) Perpetual contracts themselves aren’t considered 'illegal,' but it all depends on where and how you use them. In China, the red line on this matter is very clear; courts believe that users 'betting on prices' or 'guessing rises and falls' is no different from 'betting big or small' in gambling. Read the full article: