Chiński regulator potwierdza zakaz handlu kryptowalutami
Despite the apparent warming of the regulatory climate in China, the People's Bank remained adamant. Cryptocurrency trading remains banned
The information was made public in the account of the People's Bank of China in WeChat. Investors in cryptocurrencies are warned about the speculative nature of digital assets. Especially now, when during the month the crypto has become more expensive and cheaper.
Here are a few reasons why crypto trading in China remains banned:
- Bitcoin and altcoins are not real, but virtual currency.
- It cannot be used as a means of payment for goods and services.
- Financial institutions in China are not allowed to participate in cryptocurrency trading. Therefore, the activities of crypto-exchanges and exchangers are prohibited.
Retail traders should be wary of the risks associated with crypto investments. Since the probability of losing is greater than you get, the crypto environment is very high.
So the miracle didn't happen. The position of the People's Bank of China has not changed since 2017. Several major exchanges, including Binance and Huobi, have left the country due to negative attitudes towards digital assets.
This is irrational, especially against the background of active development of CBDC.