Not allowed. Bitcoin transactions are prohibited in China.
Not allowed. Bitcoin transactions are prohibited in China.
In September 2021, the People's Bank of China and ten other departments issued the "Notice on Further Preventing and Dealing with the Risks of Speculation in Virtual Currency Transactions", which clearly stated:
Virtual currency does not have the same legal status as legal currency.
No organization or individual is allowed to issue, sell, or purchase virtual currency in China,
Overseas virtual currency exchanges are not allowed to provide services to residents in China.
The notice also requires financial institutions and payment institutions not to provide account opening, transaction settlement, clearing and other services for virtual currency transactions.
Therefore, residents in China cannot conduct Bitcoin transactions through centralized exchanges.
OTC transactions also involve certain legal risks. The Chinese government's attitude towards OTC trading is still unclear, and more stringent regulatory measures may be introduced in the future.
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