China would not be China if there weren’t ways to circumvent strict regulations. Ownership of crypto is still legal and legally protected. Most in the West greatly underestimate the flexibility of the Chinese system. Chinese entrepreneurs are masters of the gray area.
Wait a minute – hasn’t China banned everything related to crypto by now? Well, yes and no. The government has prohibited all services related to cryptocurrencies, e.g., trading platforms, promotion or sale, and even mining of cryptocurrencies.
After China has long been the largest and most vibrant crypto market in the world, today, an entire industry has seemingly disappeared. Apparently, however, is the keyword here. Because China wouldn’t be China if there weren’t ways to circumvent strict regulations.
Despite half a dozen bans on crypto-related activities, the government has never forbidden one thing, to actually own cryptos.
Yes, you read correctly,…
