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?
In my own understanding ICO,IEO, bitcoin and other decentralized coins are banned in China, and not all crypto currency. And actually now china will embraced blockchain and after that statement they annouce again in planning to own crypto currency.
And I think if you holding bitcoin, doing some transaction, launch ICO or IEO you will be considered criminal and authority will caught and detain you. And I think why decentralized coin are banned in China is because of the threat on thier goverment banks and people are always victims of scam ico,ieo.