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?
There is no such thing, cryptocurrencies are still moving in China and it is not illegal to be holding them, the only thing that have been stricted in china is exchanges and crypto mining and this to limit money laundering and other things, and in my opinion i think that did that because they are planing on releasing their own crypto and want people to use it instead of using bitcoin and other currencies, and when it comes to china they always want to localize everything. 
Topic: Would it be possible to use Cryptocurrencies in China? - page 4. (Read 647 times)
where did you hear the news,? show the website link that preaches the crypto ban in China, instead of news that was bustling yesterday was China's president's support of blokchain, maybe you delivered the wrong news.
Same here seems OP's news is outdated. I hope he can provide reliable links here, I mean the recent China announcement. The current news from China is, they are spearheading the blockchain development there which is a good sign wherein a nation is announcing that they support this kind of technology.
In the future, all the countries will force to follow the new technology and use cryptocurrency as the blockchain technology started in many branches.
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?
No there is no such legal restriction or law passed which states ban over cryptocurrencies use in china although they have shut down certain exchanges which were dealing in crypto business.So we can say that you can trade there but they are not legal tender currencies to be used in China.They are planning to implenent blockchain technology to create their centralized coin which i personally think.But if they plan to do so prices may crash as China is leading market in asia. China will create its own cryptocurrency coin, so i think they will banned any other coins.
Most likely it will be virtual renbi, controlled by the State. As well there might be highly limited scope of usage of cryptos (but this is going as well to take place in all the countries where FATF recommendations will be implemented).
China will create its own cryptocurrency coin, so i think they will banned any other coins.
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?
I take the example of Tron, they once had a problem with the Chinese government because they were suspected of being involved in illegal ico and money laundering, although it was not proven correctly, this proves that the government does not prohibit all forms of crypto transactions, they only process every crime according to offense legal complaint. You also need to update your knowledge of the positive attitude of China in moving the blockchain industry and will launch their own cryptocurrency. 
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?
There are a lot of conflicting news today. Most likely this is fake. Because so many Chinese people at least trade on cryptocurrency exchanges, there are also a lot of miners in China. I do not think that they do not generate income.Therefore, if they generate income, why should they be banned. 
Recently, I heard ....
welcome to the forum and the cryptocurrency world.
others already explained why what you heard was wrong i want to add that one thing that you will learn pretty soon is that you shouldn't believe what you hear most of the times specially based on what the source of it is.
for instance most of the things on social media such as twitter, reddit and even forums are lies or at the very least they are exaggeration. surprisingly enough many of the crypto news sites also publish a lot of the same material.
what you should do is to always try to use your head and don't simply believe something that you read on the internet. and also try to only visit more reliable sources instead of any random website.
In my opinion, even though Cryptocurrency is ban in China you can still hold it and earn Bitcoin, but yes I think mining is the one that has made a halt in China and all its big massive rigs the last tie I saw an article about it, but I think even though there is something like this in China investors are keeping tabs on what the news and what's happening with Bitcoin I think the government still doesn't want to lose the opportunity in the innovation on what's bitcoin has to offer.
There are other countries like Russia to accommodate more mining if China has banned it and it will not have a bigger impact but I don't think they will every launch any cryptocurrency, they will launch their own centralized digital currency so don't mix up centralized digital currency with crypto.
Agree, here in Philippines as well there's a lot of miners here, as we do have cheap cost in electricity compare to other country, that's why people doing mining compare to trading, so there is no negative impact if China will lose interest in mining crypto there, we don't need them, they are just doing this for the people to be in panic, but not at all.
Recently, I heard ....
welcome to the forum and the cryptocurrency world.
others already explained why what you heard was wrong i want to add that one thing that you will learn pretty soon is that you shouldn't believe what you hear most of the times specially based on what the source of it is.
for instance most of the things on social media such as twitter, reddit and even forums are lies or at the very least they are exaggeration. surprisingly enough many of the crypto news sites also publish a lot of the same material.
what you should do is to always try to use your head and don't simply believe something that you read on the internet. and also try to only visit more reliable sources instead of any random website.
You can still use any cryptocurrency in China even if they banned it. But i think you were a bit late of the news since China banned the cryptocurrency trading in any platform in last 2017. But now, their president had a change of heart that they suddenly promote the blockchain technology hence accepting any cryptocurrency again.
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?
Cryptocurrency mining are banned in china because they think it is a waste of energy and bad for the environment, and due to fraudulent projects in ICO. But blockchain technology is now legalized in china, that is why they are starting to create and to launch their own cryptocurrency as Facebook's Libra coin. There are other countries like Russia to accommodate more mining if China has banned it and it will not have a bigger impact but I don't think they will every launch any cryptocurrency, they will launch their own centralized digital currency so don't mix up centralized digital currency with 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? Moreover, why create such a ban in the first place?
Cryptocurrency mining are banned in china because they think it is a waste of energy and bad for the environment, and due to fraudulent projects in ICO. But blockchain technology is now legalized in china, that is why they are starting to create and to launch their own cryptocurrency as Facebook's Libra coin. 
I am not sure whether China banned crypto because we know in that country there are many investors who invest with bitcoin or other crypto and are also known as developed countries with cryptocurrency, and in the past the government in China has stated clearly that cryptocurrency can be used as a transaction or Asset investment due to decentralized status and some businesses in China now adopt bitcoin as their payment medium.
Mining and ICO were still fine in China, they only banned exchanges. For some reason that China maybe think that Bitcoin has been a major disruptor in China and its socialist monetary policies but this is way 2017, these year china shows many interest in blockchain, we're not sure if it will lead to removing exchange restrictions.
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?
I am not sure whether China banned crypto because we know in that country there are many investors who invest with bitcoin or other crypto and are also known as developed countries with cryptocurrency, and in the past the government in China has stated clearly that cryptocurrency can be used as a transaction or Asset investment due to decentralized status and some businesses in China now adopt bitcoin as their payment medium.
I haven't heard any news about the cryptocurrency is ban in China, So it's not supposed to be a difficult task to run this crypto in there, So far I know that China is going to lunch their own crypto, so they are going to be the favourable country regarding this platform, Not only that but also their President recently mentioned that Blockchain is very useful for new invention, so he has praised of this platform, That's why China has opened the new window towards Blockchain and cryptocurrency. so anyone in China can easily hold and trade with cryptocurrency, that's not any criminal job in there.
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?
No official statement about banning cryptocurrency in China and in fact they slowly adopting and there’s a lot of mining company are operating in China until now. Its a criminal offense if there’s already a regulations, if ever they ban cryptocurrency for the sake of their government so its hard to disobey the law in China. If they support blockchain technology, then soon they will also support cryptocurrency and maybe create their first crypto. where did you hear the news,? show the website link that preaches the crypto ban in China, instead of news that was bustling yesterday was China's president's support of blokchain, maybe you delivered the wrong news.
Well, I also wonder why Op said like that, did he not read the news yesterday which was being talked about by Chinese President Xin Jinping?
It used to be that China might have a place for cryptocurrency holders and it would not be criminal for those who hold it, I think it would be fine in China there is no prohibition whatsoever.
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