Topic: Would it be possible to use Cryptocurrencies in China? - page 3. (Read 647 times)
As far as I know cryptocurrencies aren't banned in China. Moreover, many reliable cryptocurrency exchanges are available in China (like for example CoinDeal) so you are probably wrong. Moreover, I've got some Chinese "virtual friends" from forums and they are very into cryptocurrencies, I never heard anything about that issue.
Yeah, BTC is available but the market is restricted, you gotta provide your ID to buy everything.
I am sure you can use it there. I am not sure if you woukd want to be caught. I think as long as you do not link your name and location I think it would be okay. So in other words do not buy from anywhere that requires your name and I.D. I thought I just read that China is now accepting Crypto Currencies. I may be wrong that oh it have just been they were using blockchain technology.
Recently, I heard that China banned holding cryptocurrency and cryptocurrency transactions, so does that mean that having cryptocurrency in China would be a criminal offense? Moreover, why create such a ban in the first place?
1. China never banned holding crypto-currencies or transacting with them, they just don't support the use of it and often make crypto-services succumb to their rules, which makes it harder to use crypto-currencies for regular people.2. Having crypto-currency is therefore not a criminal offense.
3. The reason they are imposing rules on exchanges (look at Alipay with Binance) is that they don't support the decentralized nature of crypto-currencies, and therefore want to restrict people from using it.
The information you got is misleading. China didn't really banned holding cryptocurrency...
But why does some countries ban crypto? Maybe because the government see it as a threat to fiat currency... As for China's current status on blockchain, there's a big possibility that they will use cryptocurrency. But not those existing currency, they will probably create their own currency, specifically for China that are being controlled by their government.
But why does some countries ban crypto? Maybe because the government see it as a threat to fiat currency... As for China's current status on blockchain, there's a big possibility that they will use cryptocurrency. But not those existing currency, they will probably create their own currency, specifically for China that are being controlled by their government.
They will not expose the trend cryptocurrencies. chinese government is wiser than us so we can expect this things to happen that other crypto coins are not supported by them but it won't banned crypto because their own coin will be useful for them at the right time. I am hoping that china's move will be the step of other country to support cryptocurrencies and make it usable for everyone.
I don't think that this fear is present in some larger extend. China isn't example of country of freedom so people there are used to different restrictions. However, government didn't implement ban on Bitcoin or any other cryptocurrency so I guess there isn't problem to use them.
Recently, I heard that China banned holding cryptocurrency and cryptocurrency transactions, so does that mean that having cryptocurrency in China would be a criminal offense? Moreover, why create such a ban in the first place?
China's news recently has been about China's appreciation with blockchain technology and their plan of using it and launching some projects that is blockchain related. Not just that, the president also appreciated and been warmed by bitcoin since its biggest successful application of blockchain so Chinese officials quietlt removed the business of making and other altcoins on the list of industries that Beijing is trying to outlaw.Beijing is open in accepting and using cryptocurrency only in a way that they can control, it still has to be in moderation since as of the moment bitcoin only has the support and the impression but isn't actually announced to be legalized and openly accepted.
The information you got is misleading. China didn't really banned holding cryptocurrency...
But why does some countries ban crypto? Maybe because the government see it as a threat to fiat currency... As for China's current status on blockchain, there's a big possibility that they will use cryptocurrency. But not those existing currency, they will probably create their own currency, specifically for China that are being controlled by their government.
But why does some countries ban crypto? Maybe because the government see it as a threat to fiat currency... As for China's current status on blockchain, there's a big possibility that they will use cryptocurrency. But not those existing currency, they will probably create their own currency, specifically for China that are being controlled by their government.
They will not expose the trend cryptocurrencies. chinese government is wiser than us so we can expect this things to happen that other crypto coins are not supported by them but it won't banned crypto because their own coin will be useful for them at the right time. I am hoping that china's move will be the step of other country to support cryptocurrencies and make it usable for everyone.
Recently, I heard that China banned holding cryptocurrency and cryptocurrency transactions, so does that mean that having cryptocurrency in China would be a criminal offense? Moreover, why create such a ban in the first place?
Those might just be rumors or someone must have blown some action of china out of proportion. It is true that at the initial stage, china was not completely in support of cryptocurrency, but that does not mean that they have made it a criminal offense, the action they took was to look for a way to actually control it but trying to ban miners from mining cryptocurrency, but are they not the same people that have now finally declared a little bit of support for blockchain and then cancel their plan to ban mining. They might not have fully supported it but that does not mean that at the same time they are going to make it like a criminal offense for those that are using it. The first thing they did as to make their stand known of not giving support yet.
As far as I know, China had made a statement that mining is ok in their country so the idea of China trying to ban mining is already cleared. I believe it is too far for China to ban cryptocurrency at their current state of how they support Blockchain tech, and even the government itself have plan to issue their own cryptocurrency. I wonder where does OP get that rumor since recently the atmosphere of Cryptocurrency in China is getting better.
Recently, I heard that China banned holding cryptocurrency and cryptocurrency transactions, so does that mean that having cryptocurrency in China would be a criminal offense? Moreover, why create such a ban in the first place?
Those might just be rumors or someone must have blown some action of china out of proportion. It is true that at the initial stage, china was not completely in support of cryptocurrency, but that does not mean that they have made it a criminal offense, the action they took was to look for a way to actually control it but trying to ban miners from mining cryptocurrency, but are they not the same people that have now finally declared a little bit of support for blockchain and then cancel their plan to ban mining. They might not have fully supported it but that does not mean that at the same time they are going to make it like a criminal offense for those that are using it. The first thing they did as to make their stand known of not giving support yet.
The information you got is misleading. China didn't really banned holding cryptocurrency...
But why does some countries ban crypto? Maybe because the government see it as a threat to fiat currency... As for China's current status on blockchain, there's a big possibility that they will use cryptocurrency. But not those existing currency, they will probably create their own currency, specifically for China that are being controlled by their government.
But why does some countries ban crypto? Maybe because the government see it as a threat to fiat currency... As for China's current status on blockchain, there's a big possibility that they will use cryptocurrency. But not those existing currency, they will probably create their own currency, specifically for China that are being controlled by their government.
They will not expose the trend cryptocurrencies. chinese government is wiser than us so we can expect this things to happen that other crypto coins are not supported by them but it won't banned crypto because their own coin will be useful for them at the right time. I am hoping that china's move will be the step of other country to support cryptocurrencies and make it usable for everyone.
Actually the banning of cryptocurrency as well as bitcoin mining in China does occur but didn't regulize because of some deep reasons, but as far as I know the current news about the China is they are actually open for regulizing blockchain technology as President Xi announced, with this announcement it would be a good factor in which China will be one of the main center of the cryptocurrency although we already know that Chinese people are playing a big role in the crypto community especially with the bitcoin mining. There are also some news and rumors that China will regulate cryptocurrency and they will make their own cryptocurrency with them. So I think it is really possible that using cryptocurrency in China will allowed.
Recently, I heard that China banned holding cryptocurrency and cryptocurrency transactions, so does that mean that having cryptocurrency in China would be a criminal offense? Moreover, why create such a ban in the first place?
the last update in China about cryptocurrency s EOS being the top 1 ranked crypto while Bitcoin rank is lower and positioning at 12 this means crypto arent banned in china.and just like what others said above,it doesnt really matter if the crypto is banned or not because you can still use it though limited transaction is allowed.
Recently, I heard that China banned holding cryptocurrency and cryptocurrency transactions, so does that mean that having cryptocurrency in China would be a criminal offense? Moreover, why create such a ban in the first place?
They had it supposed to be banned, but they lifted their urrent stand against cryptocurrency and apparently, they had decided to join the market by planning to release their own blockchain-powered cryptocurrency, and removing the ban on other cryptocurrencies. I think they wanted to ban it because they want to have control over everything, and watch their population activity even in financial space, by having only one centralized system by them and does not want any decentralized system that gives people total financial freedom.
The problem here OP is that the topic you've posted is not supported by any sources or links that might be validated by us. Don't listen to any gossips regarding china prohibiting bitcoin and cryptocurrency. In my opinion, directly posting this without prior research or as simple as reading an article will just induce negative perceptions of users to bitcoin adoption I would recommend you should visit sites such as cryptocrunch (easy when you google it), or download some apps in playstore that has legitimate news concerning the Chinese issue about crypto and the blockchain.
Recently, I heard that China banned holding cryptocurrency and cryptocurrency transactions, so does that mean that having cryptocurrency in China would be a criminal offense? Moreover, why create such a ban in the first place?
Where did you hear about that?
Everything is actually quite wrong.
In addition, in any case, all countries will have to accept cryptocurrencies, since progress cannot be hidden.
Recently, I heard that China banned holding cryptocurrency and cryptocurrency transactions, so does that mean that having cryptocurrency in China would be a criminal offense? Moreover, why create such a ban in the first place?
What you should understand and know is that cryptocurrency can be used in any part of the world in as much that it might be banned in a particular country. To answer your question, the news about China banning cryptocurrency is one of the FUDs shared by people just to avoid others from using and getting into the crypto space. There hasn't been any specific evidence proving that cryptocurrency is been banned by the China government. This FUD has gone on for a while now and needs to be stopped. FUDs are the main reason why the adoption of Bitcoin and other cryptocurrencies has been very slow.
Recently, I heard that China banned holding cryptocurrency and cryptocurrency transactions, so does that mean that having cryptocurrency in China would be a criminal offense? Moreover, why create such a ban in the first place?
We should not believe easily on the news we hear. We should make sure that it is credible enough to be believed by all of us or else we would be guided in the wrong direction. We all know China contributes massively in cryptocurrency and blockchain system and according to the real news, it is still regulated in China. Things became more strict in there but the total use of cryptocurrency was never been made, only for the exchanges the restrictions were made to make sure that no one would abuse the use of it and as a preparation for their own version of crypto. Recently, I heard that China banned holding cryptocurrency and cryptocurrency transactions, so does that mean that having cryptocurrency in China would be a criminal offense?
Holding cryptocurrency in China has no criminal offense but cryptocurrency exchanges or trading platforms were effectively banned by regulation in September 2017 with 173 platforms closed down by July 2018.
Moreover, why create such a ban in the first place?
At the moment only few countries are very positive towards cryptocurrency and some make a regulations to safeguard their citizens due to a lot of scams or fraud in crypto-space.
Recently, I heard that China banned holding cryptocurrency and cryptocurrency transactions, so does that mean that having cryptocurrency in China would be a criminal offense? Moreover, why create such a ban in the first place?
Are you sure China actually banned usage and holding of crypto currencies? Should be all over the news if they actually did so. I just heard that they are making they own centralized crypto currencies. Regardless, you still will be able to use crypto currency. Crypto currency has no central authority. It is a decentralized currency thus, the government can't ban "bitcoin". All they can do is make the usage of crypto currency illegal. As long as you don't get caught (doing bank transaction), they can't do anything.
The information you got is misleading. China didn't really banned holding cryptocurrency...
But why does some countries ban crypto? Maybe because the government see it as a threat to fiat currency... As for China's current status on blockchain, there's a big possibility that they will use cryptocurrency. But not those existing currency, they will probably create their own currency, specifically for China that are being controlled by their government.
But why does some countries ban crypto? Maybe because the government see it as a threat to fiat currency... As for China's current status on blockchain, there's a big possibility that they will use cryptocurrency. But not those existing currency, they will probably create their own currency, specifically for China that are being controlled by their government.
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