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China legalizes Bitcoin purchases.

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https://twitter.com/cnLedger/status/1131004668027387904

Twitter cnLedger

1/ "It is legal to own bitcoins in China" says Sa Xiao, Council Member at Bank of China Law Research Association, cited by The Beijing News. Besides,...

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What a big news this will be then since China has the world's largest population in the world! This piece of good news will definitely boost the Bitcoin market and encourage more Bitcoin investors! :)

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as cnLedger said :

2/ Xiao also believes if one runs BTC trading as a business and has caused significant customer losses w/ serious consequences, the possibility of punishment according to criminal law (225#4 Other illegal business practices that seriously disrupt market order) cannot be ruled out

Selengkapnya

3/ Context: The Beijing News reported a case which involves 100+ users who were scammed of 7000+ BTC. The scammer claimed they would borrow users' BTC to arbitrage between exchanges and distribute profits back to users. However scammer disappeared after users' last large deposit

4/ Xiao's views were based on current legal framework which protects ppl's rights of virtual properties (Bitcoin included). Occasional P2P tradings of bitcoin is in nature "disposition right", one of the rights of "ownership". Therefore owning & occasional P2P trading is legal

source: 

 

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1 hour ago, williamshennie9 said:

I can almost swear that I read an article about last week saying that China banned bitcoin. This is super good news then! I am so glad more countries are opening up to bitcoin :D

Yeah, I saw articles about that. Not just last week. there is some in last few months. And last year there is many article talkin about china banned bitcoin. 

This one is good, hope this is real.

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7 hours ago, coeghacked said:

 

Haha the picture above really does illustrate how Bitcoin has been in China indeed, a rollercoaster of potentially being banned then again legal now.

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I think that it will really boost the demand for bitcoin.  It should be interesting to see how this unfolds in the coming months on the market. Like Etude said China has the biggest population so thats  a lot of bitcoin to toss around.

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This is new to me, i remember i read an article how financial institutions are alarmed in china because the cryptos. but what the hell, cryptos are convient to use and more manageable.

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On 5/22/2019 at 2:18 PM, coeghacked said:

https://twitter.com/cnLedger/status/1131004668027387904

Twitter cnLedger

1/ "It is legal to own bitcoins in China" says Sa Xiao, Council Member at Bank of China Law Research Association, cited by The Beijing News. Besides,...

Only Bitcoin or all cryptocurrencies? What is the reasons for them to change their mind? 

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China Releases New Crypto Rankings

China’s Center for Information and Industry Development has released its latest rankings of 35 crypto projects that were evaluated over the past two months. While several top positions remain unchanged, Bitcoin has climbed up the overall ranking.

source https://news.bitcoin.com/china-releases-new-crypto-rankings/

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Well there is no difference because there are a lot of ways that you can buy bitcoin even if china had banned it at first.

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there you go more source interesting

Latest Bitcoin case in China: 61 years old grandma stole $1300 worth of electricity just to mine ~$940 worth of BTC, got sentenced 4 months jail time. Bitcoin profit was turned over to the state treasury. source https://www.thepaper.cn/newsDetail_forward_3515456

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