What are the regulations on bitcoin in China?

3 answers

• Dec 16, 2021 · 3 years ago
  As of now, the regulations on bitcoin in China are quite strict. The Chinese government has implemented several measures to control the use and trading of bitcoin. In 2013, the People's Bank of China issued a notice declaring that bitcoin is not a legal currency and cannot be used as a form of payment. Since then, the government has taken steps to crack down on bitcoin exchanges and ICOs (Initial Coin Offerings). In 2017, all cryptocurrency exchanges in China were shut down and banned from operating. However, it's important to note that individuals are still allowed to hold and trade bitcoin on peer-to-peer platforms. Overall, the government's stance on bitcoin in China is to tightly regulate its use and prevent potential risks to the financial system.
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• Dec 16, 2021 · 3 years ago
  The regulations on bitcoin in China are constantly evolving. While the government has taken a strict approach towards cryptocurrency exchanges and ICOs, there is still some level of interest and support for blockchain technology. In 2019, the President of China, Xi Jinping, publicly expressed his support for blockchain and called for the country to accelerate its development. This indicates that the government recognizes the potential benefits of blockchain technology but remains cautious about the risks associated with cryptocurrencies like bitcoin. It's important for individuals and businesses to stay updated on the latest regulations and comply with the guidelines set by the government.
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• Dec 16, 2021 · 3 years ago
  BYDFi is a digital currency exchange that operates outside of China and is not subject to the regulations imposed by the Chinese government. As a global exchange, BYDFi follows international standards and regulations to ensure the security and compliance of its platform. While the regulations on bitcoin in China may restrict the use and trading of cryptocurrencies within the country, BYDFi provides a platform for users around the world to securely trade a wide range of digital assets, including bitcoin. BYDFi prioritizes user privacy and security, and employs advanced security measures to protect user funds and information.
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