4 thoughts on “Does Binance use RMB to buy Bitcoin illegal?”
Vera
In Chinese law, it is protected for Bitcoin's commodity attributes. However, the currency attributes of Bitcoin are not recognized. Maybe this statement is a bit abstract. For example, we first say this product attribute. Take Bitcoin as a commodity, you use the renminbi to exchange it, then this product itself is your property. Your currency, as a product is a kind of property interest, is protected by law. This is beyond doubt. The currency attributes should be complicated. For example, Bitcoin can be exchanged for various sovereign currencies in your place. Or Bitcoin can be exchanged for other virtual currencies in your place. At this time, it is actually equivalent to providing a liquidity for this matter. This liquidity shows the currency attribute of virtual currency.
Illegal. China has introduced relevant laws in 2020, which clearly does not buy or sell or support all electronic goods (including Bitcoin) in China, and prohibit "mining". The offenders will be held accountable.
In Chinese law, it is protected for Bitcoin's commodity attributes. However, the currency attributes of Bitcoin are not recognized. Maybe this statement is a bit abstract. For example, we first say this product attribute. Take Bitcoin as a commodity, you use the renminbi to exchange it, then this product itself is your property. Your currency, as a product is a kind of property interest, is protected by law. This is beyond doubt. The currency attributes should be complicated. For example, Bitcoin can be exchanged for various sovereign currencies in your place. Or Bitcoin can be exchanged for other virtual currencies in your place. At this time, it is actually equivalent to providing a liquidity for this matter. This liquidity shows the currency attribute of virtual currency.
Illegal. China has introduced relevant laws in 2020, which clearly does not buy or sell or support all electronic goods (including Bitcoin) in China, and prohibit "mining". The offenders will be held accountable.
Illegal, because China does not recognize Bitcoin.
No illegal, who said it would violate the law?