according to the materials from the site - By Bitcoin Sistemi EN
In recent hours, false rumors have begun to spread on some social networks that China has once again banned cryptocurrencies.
However, these statements are not based on official sources and contradict current regulations. Here are four important facts about China's policy on cryptocurrencies:
Hong Kong welcomes the cryptocurrency sector: Hong Kong, a special administrative region of China, has accepted cryptocurrencies as a pilot region. Local regulatory authorities continue to license cryptocurrency exchanges.
Physical transactions are not prohibited: Individuals are not prohibited from buying or selling cryptocurrencies in China. Only financial institutions and companies are banned from offering services related to cryptocurrencies. Personal ownership of cryptocurrency is allowed.
Bitcoin mining continues: Bitcoin mining remains a viable option in some regions of China due to the affordable cost of electricity. Despite the bans of 2021, many miners have continued their activities underground.
Interest in stablecoins and real-world assets (RWA) is growing: Chinese authorities have begun to show interest in stablecoins and projects that tokenize real assets (RWA). News on the topic: A Japanese tech giant has announced plans to purchase a large amount of bitcoins.
China has not officially announced any new rules regarding cryptocurrencies recently. The ban on cryptocurrencies in the country has been in place since 2021. The latest rumors relate to China's attempts to tighten financial control and accelerate the implementation of a state digital currency - the digital yuan (CBDC). However, no new bans have been introduced at this time.
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