China and cryptocurrency
An important cryptocurrency market is China. We will analyze informational situations and keep you informed
Re: China and cryptocurrency
In China, financial institutions are prohibited from working with digital money, but individuals can use it freely. In any case, the Chinese bitcoin market is one of the largest in the world, despite some restrictions.
To summarize, digital currency is a breakthrough that has left all legislators far behind. Is bitcoin legal? It all depends on the country. Some agreed to give Bitcoin a chance, applying already existing laws to their regulation, which depend on the definition of the concept of cryptocurrency in each individual country. Others chose to ban Bitcoin, and some even tried to create a bill for this purpose. In any case, it will be quite difficult to eradicate a cryptocurrency, because of its decentralization. So, of course, people have enough time to feel the full benefits of digital money, even if the legal status of Bitcoin remains uncertain.
To summarize, digital currency is a breakthrough that has left all legislators far behind. Is bitcoin legal? It all depends on the country. Some agreed to give Bitcoin a chance, applying already existing laws to their regulation, which depend on the definition of the concept of cryptocurrency in each individual country. Others chose to ban Bitcoin, and some even tried to create a bill for this purpose. In any case, it will be quite difficult to eradicate a cryptocurrency, because of its decentralization. So, of course, people have enough time to feel the full benefits of digital money, even if the legal status of Bitcoin remains uncertain.
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