China says it is legal to own Bitcoins; trading is banned

China says it is legal to own Bitcoins; trading is banned

China, after recently applying stringent regulation to the cryptocurrency market, has offered an update on its stance, saying that it is not illegal to own Bitcoin (BTC), though trading is still banned. Bitcoin is considered property or a commodity by Chinese authorities.

KCooper
KCooper
Rocky LeBlanc
Rocky LeBlanc 1 year

Of course it's legal to own. China owns more Bitcoin than any other entity in the world by a large margin according to market cap. They also don't want trade because that dilutes their influence on the value. This is all in the Princeton study on Chinese Bitcoin influence. They also own and operate over 74% of all Bitcoin mining on the block chain.

Naidu VGA
Naidu VGA 1 year

Well u know, Chinamen want all but without any strings attached.

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