What would people face in china if they buy crypto ?
I'm certain that they will not face the wall of a prison cell. The pronouncement about banning ICO and closing exchanges is not pointed to citizens of that country but to marketing side. You can still buy bitcoin, Chinese friend of mine told me but through other means. And I think china just want to regulate this kind of investments for they're people's protection from scammed ICO.
If this is the case then there is really no cause for alarm but come to think of it whats will be the point of owning a bitcoin that I cannot convert to fiat for use since stores don't accept bitcoin yet, and government is coming again to ban the middle men that could made it possible. Wouldn't that mean the same thing as banning bitcoin within the country? All the same, I am anxiously waiting on the Chinese members of the community to give updates on the implementation of this policy.
The last we talked about the middleman he referring too and he not even mentioned that it is part of those being track by government. If that the case that would be an alarm bell for bitcoin users on that part of the world. I will in touch soon to my friend but it would be hard as he fly backed this weeks at home. I would love to hear some news regarding this issues maybe this one reason that price can't go bull run again. I hope he is fine now I'll advice him just to stayed here in my country instead.