What would people face in china if they buy crypto ? - page 3.

PeterKh

member

Activity: 107

Merit: 10

ICO legal advisor and blockchain enthusiast

Quote from: TurbulenceChaos on September 17, 2017, 02:08:56 AM

Yes, but as a Chinese, I can see little possibility the gov will resume the exchanges, people will begin to do OTC trading in the future.

OTC is not banned publicly, whatever, with a VPN you can do trading on localbitcoins or any other P2P trading platform.

Do you encounter problems using exchanges based outside of China, if they ask for your residency information?

TurbulenceChaos

newbie

Activity: 18

Merit: 0

Quote from: equator on September 16, 2017, 04:45:28 PM

Quote from: veleten on September 16, 2017, 04:42:11 PM

Quote from: catlovedog on September 16, 2017, 04:04:46 PM

What would people face in china if they buy crypto ?

nothing,there is no law or even a newwspaper article that forbids people to trade or buy cryptocurrencies
it is the banks and the trading platforms such as exchanges that are targeted
if you cannot convert or sell/buy cryptocurrency,you will not be using it,so there is no reason to punish common folks
it is much easier and effective to ban exchanges and banks from dealing with it
and then punish those that do not comply

So it means that china users can do bitcoin work and save it , so that in future if the local exchanges start to take bitcoin trading then that time they can trade with bitcoin what they are holding it.

Yes, but as a Chinese, I can see little possibility the gov will resume the exchanges, people will begin to do OTC trading in the future.

OTC is not banned publicly, whatever, with a VPN you can do trading on localbitcoins or any other P2P trading platform.

equator

legendary

Activity: 1190

Merit: 1002

Quote from: veleten on September 16, 2017, 04:42:11 PM

Quote from: catlovedog on September 16, 2017, 04:04:46 PM

What would people face in china if they buy crypto ?

nothing,there is no law or even a newwspaper article that forbids people to trade or buy cryptocurrencies
it is the banks and the trading platforms such as exchanges that are targeted
if you cannot convert or sell/buy cryptocurrency,you will not be using it,so there is no reason to punish common folks
it is much easier and effective to ban exchanges and banks from dealing with it
and then punish those that do not comply

So it means that china users can do bitcoin work and save it , so that in future if the local exchanges start to take bitcoin trading then that time they can trade with bitcoin what they are holding it.

veleten

legendary

Activity: 2016

Merit: 1107

Quote from: catlovedog on September 16, 2017, 04:04:46 PM

What would people face in china if they buy crypto ?

nothing,there is no law or even a newwspaper article that forbids people to trade or buy cryptocurrencies
it is the banks and the trading platforms such as exchanges that are targeted
if you cannot convert or sell/buy cryptocurrency,you will not be using it,so there is no reason to punish common folks
it is much easier and effective to ban exchanges and banks from dealing with it
and then punish those that do not comply

catlovedog

newbie

Activity: 28

Merit: 0

What would people face in china if they buy crypto ?

Topic: What would people face in china if they buy crypto ? - page 3. (Read 2016 times)