“Chinese government does not ban Bitcoin” = polar arbitration agency negotiates.

Cryptocurrency 21-30

The Beijing Arbitration Commission (BAC), a non-profit arbitration unit in China, is the Tourism Arbitration Commission on the 30th, and the Chinese government is united by the Tokyo Arbitration Commission (BAC).

ICO was banned from China in 2017, and in 2019, the issuance of the cryptocurrency “Cryptocurrency exemption gift in Beijing” was not issued. There is also a crackdown on financing by purchasing, and the Chinese currency exchange is cryptographic.

To BAC said to download, the Chinese government kitted the ban on ICO “My cake with the risk of raising a fixed pen” is a template currency using Bitcoin Since the currency is bottomed out, Tokyo commodities say this Interpretation.

Law The current law previews Bitcoin Real Estate Regulations Regulations are good enough.

“The” General Principles of Civil Code “does not specifically stipulate the expansion or implications of virtual property, but merely stipulates that the protection of virtual property must be stipulated by law. The specific protection measures are entrusted to other laws. Currently, there is no law on Bitcoin in China, so it cannot be recognized as a virtual property. ”

“In summary, the Chinese government does not ban Bitcoin’s activities as a virtual commodity except when it is used as fiat currency,” the report said.

Also, in China, the government does not recognize Bitcoin as a legal tender, so it does not have the nature of a currency, and Bitcoin is not used as a substitute for legal tender, so it is associated with illegal transactions. Insisted that it was not.

“Prohibited transactions include cases where Bitcoin is used as a currency. If Bitcoin does not act as a currency, it is not a state-banned transaction. For example. In the stock transfer agreement dispute decided by the Shenzhen International Arbitration Court, both sides agreed to return Bitcoin. Bitcoin is only used as a general property. Therefore, this transaction is related domestically. It does not violate regulations and should be valid. ”

○Chinese cryptocurrency regulation.

China is known as one of the most rigorous countries in the world since the regulation of crypto exchanges in 2017. Binance, the world’s largest cryptocurrency exchange, has also been forced to leave the country due to these regulations.

However, there are cases where the Chinese government has not banned cryptocurrency-related activities, despite the fact that Bitcoin is being regulated.

In November 2019, China’s top-level economic planning agency, the National Development and Reform Commission of China, announced an industrial reform plan that Bitcoin mining is not an illegal industry.

Further, when Xi Jinping Jintao of China showed the attitude to promote the block chain development in 2019 has been the remarks as “not a bit coin, but block chain”.

 

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