Cryptocurrency Q&A
Is cryptocurrency legal in China?
Is cryptocurrency legal in China?
Nicolo
Sun Jun 09 2024
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6 answers
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Could you please clarify for me the legality of cryptocurrency in China? I've heard conflicting views on whether it's permitted or restricted. Could you provide me with a concise overview of the current legal status of cryptocurrency in China? Are there any specific cryptocurrencies that are allowed or banned? Additionally, is there any regulation governing the use or trade of cryptocurrencies in the country? Your insights would be greatly appreciated.
6 answers
Lucia
Tue Jun 11 2024
Despite the regulatory challenges, Run remains steadfast in his belief that Bitcoin serves as a safe haven asset, akin to gold. He views it as a means of preserving value and hedging against potential risks in the traditional financial system.
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BenjaminMoore
Tue Jun 11 2024
Cryptocurrency trading and mining have faced strict regulations in China since 2021, yet enthusiasts still seek ways to participate. One such individual is Run, who utilizes a unique strategy to evade scrutiny.
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GwanghwamunGuardianAngelWingsBlessing
Tue Jun 11 2024
Run opts to use bank cards issued by small rural commercial banks to purchase cryptocurrencies through grey-market dealers. This unconventional approach allows him to circumvent the strict controls imposed by larger financial institutions.
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ShintoSpirit
Tue Jun 11 2024
Each transaction conducted by Run is capped at 50,000 yuan ($6,978). This limit serves to reduce the risk of attracting undue attention and scrutiny from authorities.
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StormGalaxy
Mon Jun 10 2024
BTCC, a UK-based cryptocurrency exchange, offers a comprehensive suite of services that cater to the needs of crypto enthusiasts. These services include spot trading, futures trading, and wallet management.
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