Cryptocurrency Q&A
Why is Bitcoin illegal?
Why is Bitcoin illegal?
QuasarGlider
Sat Dec 21 2024
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5 answers
929
I've heard that Bitcoin is illegal in some places. I want to understand the reasons behind this. Why would a digital currency like Bitcoin be considered illegal? What are the legal and regulatory issues surrounding it?
5 answers
Arianna
Mon Dec 23 2024
The notice emphasized the adverse effects of virtual currency trading speculation. It stated that such activities had disrupted the economic and financial order within the country.
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DongdaemunTrendsetterStyleIcon
Mon Dec 23 2024
Furthermore, the People's Bank of China highlighted the illegal and criminal activities that had emerged as a result of virtual currency trading. These included gambling, illegal fundraising, fraud, pyramid schemes, and money laundering.
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Martina
Mon Dec 23 2024
The notice also specifically mentioned several virtual currencies, such as Bitcoin, Ethereum, and Tether. It made it unequivocally clear that these currencies must not be circulated in the market.
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KimchiQueenCharmingKiss
Mon Dec 23 2024
On September 25, a report by Japan's Asahi Shimbun revealed a significant notice from the People's Bank of China.
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Claudio
Mon Dec 23 2024
This move by the People's Bank of China reflects a strong stance against virtual currency trading and speculation. It aims to protect the country's economic and financial stability, and to prevent the proliferation of illegal activities.
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