Cryptocurrency Q&A
Is owning crypto illegal in China?
Is owning crypto illegal in China?
CryptoDynastyLord
Sun Jun 09 2024
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7
answers
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7 answers
CryptoNinja
Tue Jun 11 2024
Run believes that Bitcoin serves as a safe haven asset, similar to gold. He views it as a way to preserve and grow wealth, despite the volatile nature of the cryptocurrency market.
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JejuSunshine
Tue Jun 11 2024
Cryptocurrency trading has become increasingly popular, despite regulatory challenges. Run, an individual trader, has found a way to circumvent these restrictions by utilizing bank cards issued by small rural commercial banks.
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Carlo
Tue Jun 11 2024
Through grey-market dealers, Run purchases cryptocurrencies, taking advantage of the anonymity and flexibility these dealers offer. Each transaction is carefully capped at 50,000 yuan ($6,978) to avoid attracting undue scrutiny.
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Stefano
Mon Jun 10 2024
However, the Chinese government has taken a different stance on crypto trading and mining. Since 2021, these activities have been officially banned in the country.
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GangnamGlitter
Mon Jun 10 2024
Despite the ban, individuals like Run continue to find ways to participate in the cryptocurrency market. This illustrates the resilience and determination of crypto enthusiasts, who are willing to go through lengths to access these markets.
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