Post
Topic
Board Press
Re: [2019-07-19] Bitcoin Declared Legal Commodity in Chinese Court
by
BitHodler
on 20/07/2019, 23:11:50 UTC
I remember before china government declared totally ban of crypto currency because they to make own digital currency.
I don't recall anything of China having imposed a total ban on crypto-- they cracked down on the exchanges and the practice of trading crypto to fiat. You can still legally own it and even use it as long as fiat isn't part of the transaction.

If you for example buy a car with Bitcoin, or sell a car for Bitcoin, this is not against their law. You can put this allowed form of use in the category of barter, where you trade one good for the other.

Crypto to crypto trades are allowed too in a peer to peer manner. It's sad to see that people due to news outlets spreading false information think China has imposed a total ban on everything related to crypto.