CRYPTO MINING BLOG

China gave cryptocurrency status of “virtual property”

Although possession of digital currency is now protected by law, a number of measures have been taken to exclude the flagship cryptocurrency, one of which is a complete ban on all initial offers of coins (ICO).

In response to the court’s decision, a People’s Bank of China official told the Chinese daily Global Times:

“Indeed, Bitcoin is a virtual property, but it is not paper money.”

The decision of the court and the explanation of the NBK make it clear that the possession of a cryptocurrency in China is legal.

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