Topic: Would it be possible to use Cryptocurrencies in China? - page 5. (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.
There is always a way around the ban, in this case how to trade or buy/sell something with cryptocurrency. The Chinese never gave up trading, and they always used P2P, and last month Binance got involved in everything with their P2P app which supports BTC, ETH, USDT for trading against Chinese Yuan.
Even better news for the Chinese is the fact that the app supports Alipay and Wechat, although they officially distance themselves from any transactions related to crypto. Still, this is a definite improvement on the huge Chinese market, with the speculation that Binance is coming back to China soon.
For some good, for other bad news considering China's highly variable policy towards crypto.
More info : Binance Launches P2P Trading in China With Support for Alipay and Wechat
Even better news for the Chinese is the fact that the app supports Alipay and Wechat, although they officially distance themselves from any transactions related to crypto. Still, this is a definite improvement on the huge Chinese market, with the speculation that Binance is coming back to China soon.
For some good, for other bad news considering China's highly variable policy towards crypto.
More info : Binance Launches P2P Trading in China With Support for Alipay and Wechat
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 didn't know about that specific ban on holding cryptocurrency is that even real?But based on what I know there is no ban lifted on holding cryptocurrency there, but if such law exists it would be surely a criminal and legal case since the government is prohibiting it.
1. As far as I know cryptocurrencies aren't banned in China.
2. Regardless if it's banned, you can still use bitcoin/cryptocurrencies. Assuming you don't get caught using it. It'd be wise to use Tor.
3. The best that China can do as far as I know is just to add crypto-related sites to their firewall. Beyond that? I don't think there's anything they can do.
2. Regardless if it's banned, you can still use bitcoin/cryptocurrencies. Assuming you don't get caught using it. It'd be wise to use Tor.
3. The best that China can do as far as I know is just to add crypto-related sites to their firewall. Beyond that? I don't think there's anything they can do.
They have banned exchanges, they have banned the conversion of yuan into bitcoin or any other cryptocurrency and they have banned retailers from accepting cryptocurrency. The only reason it's not banned altogether is that they don't want to ban miners earning cryptocurrency through mining efforts.
Because you can't really use crypto for anything in China, the only use is as a store of value and to get money out of the country. But the Chinese govt banned exchanges precisely because they operate capital controls and the exchanges were used to exchange yuan for bitcoin with a view to exchanging bitcoin for dollars in the future.
In addition, they have banned cryptocurrency crowd funding. They have also banned financial institutions to get involved in cryptocurrency. But there was no blanket ban on cryptocurrency. And also, cryptocurrency is designed to be peer-to-peer. Everyone can still buy and sell products and services to people who choose to use cryptocurrency as payment instead of fiat. If you read actual experiences shared online, a lot are saying that crypto or even Bitcoin is actively bought and sold in china.
1. As far as I know cryptocurrencies aren't banned in China.
2. Regardless if it's banned, you can still use bitcoin/cryptocurrencies. Assuming you don't get caught using it. It'd be wise to use Tor.
3. The best that China can do as far as I know is just to add crypto-related sites to their firewall. Beyond that? I don't think there's anything they can do.
2. Regardless if it's banned, you can still use bitcoin/cryptocurrencies. Assuming you don't get caught using it. It'd be wise to use Tor.
3. The best that China can do as far as I know is just to add crypto-related sites to their firewall. Beyond that? I don't think there's anything they can do.
They have banned exchanges, they have banned the conversion of yuan into bitcoin or any other cryptocurrency and they have banned retailers from accepting cryptocurrency. The only reason it's not banned altogether is that they don't want to ban miners earning cryptocurrency through mining efforts.
Because you can't really use crypto for anything in China, the only use is as a store of value and to get money out of the country. But the Chinese govt banned exchanges precisely because they operate capital controls and the exchanges were used to exchange yuan for bitcoin with a view to exchanging bitcoin for dollars in the future.
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 think you referring to this news from 2017.
Quote
The ban, which was announced in September, finally shuttered its last exchange and made it illegal for Chinese mainlanders to exchange digital money unless they operate offshore.
https://www.forbes.com/sites/kenrapoza/2017/11/02/cryptocurrency-exchanges-officially-dead-in-china/#22226d612a83
As other members are saying there is no ban on CC but on but on exchanges. https://www.forbes.com/sites/kenrapoza/2017/11/02/cryptocurrency-exchanges-officially-dead-in-china/#22226d612a83
Recently, I heard that China banned holding cryptocurrency and cryptocurrency transactions,
You heard wrong.so does that mean that having cryptocurrency in China would be a criminal offense?
Since the above is wrong, it obviously means there is no offense cryptos are actually regarded as property.Moreover, why create such a ban in the first place?
Again, there was no such ban.Now, when it comes to "use" cryptocurrency you should be a bit more specific what you mean!
You can hold, send to your friends or relatives, and you can try to purchase stuff...but you're going to have a lot of problems there, not because it is banned, but because there are no vendors or businesses acceting bitcoin.
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 specific ban for holding any cryptocurrency but they do not have any exchanges to trade as far as i know as the government forced them to shut down a couple of years ago and if the government wants to shut the exchanges they can do that, first fight for freedom and ask for a free internet without restrictions and you expect the government will allow freedom of trade with bitcoin 
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1. As far as I know cryptocurrencies aren't banned in China.
2. Regardless if it's banned, you can still use bitcoin/cryptocurrencies. Assuming you don't get caught using it. It'd be wise to use Tor.
3. The best that China can do as far as I know is just to add crypto-related sites to their firewall. Beyond that? I don't think there's anything they can do.
2. Regardless if it's banned, you can still use bitcoin/cryptocurrencies. Assuming you don't get caught using it. It'd be wise to use Tor.
3. The best that China can do as far as I know is just to add crypto-related sites to their firewall. Beyond that? I don't think there's anything they can do.
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?
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