"Is Virtual Currency Trading Legal in China? - Exploring the Gray Area"


Is cryptocurrency trading legal in China?

2023-05-18 20:14

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Cryptocurrency trading is technically not illegal in China, but the government has implemented strict regulations on the industry. In September 2017, China banned initial coin offerings (ICOs) and shut down cryptocurrency exchanges. Since then, the government has cracked down on all forms of cryptocurrency-related activities, including trading, mining, and advertising. However, there are still ways for Chinese citizens to trade cryptocurrencies through offshore exchanges or peer-to-peer trading platforms. Overall, while cryptocurrency trading is not explicitly illegal in China, it is highly regulated and subject to strict government restrictions.

Release time 2023 05 18

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Virtual currency trading in China is deemed illegal. In September 2017, the Chinese government issued a notice which prohibited all initial coin offerings (ICOs) and ordered closure of cryptocurrency exchanges operating in the country. This was followed by a crackdown on peer-to-peer trading platforms and mining operations. Despite there being no explicit laws banning virtual currency trading, the government has taken a strict stance on the matter due to concerns over financial stability and potential fraud. As a result, Chinese investors have been increasingly investing in virtual currencies through overseas platforms.

Release time 2023 05 18

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