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Virtual Property
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Bitcoin Is Peer-to-Peer Trading Illegal in China? An In-Depth Analysis of Its Legal Status and Risks
In mainland China, the personal possession of Bitcoin is not illegal in itself, and Bitcoin is regarded as a virtual commodity or virtual property and is protected by law. However, trading activities involving Bitcoin are subject to strict restrictions; in particular, transactions involving financial institutions, the establishment of trading platforms, ICOs, and mining are explicitly prohibited.Although peer-to-peer Bitcoin transactions are not explicitly prohibited, they are not protected by law and carry multiple risks. This article will detail the legal status of Bitcoin in China, prohibited activities, and the risks associated with individual trading.
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Bitcoin Is Peer-to-Peer Trading Illegal in China? An In-Depth Analysis of Its Legal Status and Risks
In mainland China, the personal possession of Bitcoin is not illegal in itself, and Bitcoin is regarded as a virtual commodity or virtual property and is protected by law. However, trading activities involving Bitcoin are subject to strict restrictions; in particular, transactions involving financial institutions, the establishment of trading platforms, ICOs, and mining are explicitly prohibited.Although peer-to-peer Bitcoin transactions are not explicitly prohibited, they are not protected by law and carry multiple risks. This article will detail the legal status of Bitcoin in China, prohibited activities, and the risks associated with individual trading.
Virtual Property
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