Crypto Still Going in China Despite Rules

Crypto Still Going in China Despite Rules

LegalFraud

By Jakub Lazurek

06 Feb 2024 (5 months ago)

1 min read

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China's crypto trade thrives despite tight rules, debunking total ban myth

Crypto Keeps Going Strong in China Despite Rules
Beijing, China – Many people think China has banned all cryptocurrency, but actually, crypto is still doing well there, showing that the market can keep going even with tough rules. Even though many say China has totally banned crypto, the truth is different. Binance, a big crypto company, did $90 billion worth of business in China, showing that there's still a lot of crypto action happening, not a full ban.
China hasn't really stopped all crypto. There are many rules, but nothing says you can't have or trade digital money. It's just that if you do, the law won't help you if something goes wrong.
Dealing with the Rules After China made things harder for crypto in 2013 and 2017, people who like crypto found ways to keep trading. They use websites from other countries and trade directly with each other. The crypto fans in China are smart. They find ways to work around the not-so-clear rules, keeping crypto alive. This shows it's hard to completely stop digital money and that people find new ways to trade.

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