Is It Legal To Speculate In Digital Currencies?

admin 2023年12月07日 13:54 290 0

Is digital currency investment legal?

1. Digital currency ICO is illegal in China

In September 2017, the central bank issued an announcement on preventing the financing risks of token issuance, officially defining ICO as unapproved illegal financing, and no organization or individual is allowed to participate.

Subsequently, it was announced on April 23, 2018 that all digital currency ICO platforms would withdraw from the Chinese market. Therefore, ICOs are currently illegal in China.

2. China bans digital currency transactions

After declaring ICO as illegal financing, the central bank also listed the provision of trading, exchange, pricing, information intermediary and other services for virtual currencies as prohibited items, which means that digital currency exchanges are currently illegal in China.

Trading platforms such as Bitcoin China and Huobi all announced in 2018 that they would stop RMB recharge business and close their trading platforms. As of April 2018, all digital currency exchanges have completely withdrawn from the Chinese market.

3. The central bank has not yet issued a legal digital currency.

As of now, the central bank has not issued a legal digital currency. If you are recommended to buy digital currency "authorized or issued by the central bank", it is definitely a scam platform.

Judging from the above analysis, digital currency investment is still a high-risk project, and many people have been cheated or lost money. If you don’t have certain professional capabilities and just follow the trend blindly, then investing in digital currencies is unreliable. At present, there are no relevant laws and regulations on digital currencies in China, but judging from the documents issued by the central bank, the country is still very cautious about digital currencies, especially digital currencies issued by individuals, and the risks are very high.

标签： #Digital Currency #Currency