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“It’s not illegal for the public to trade BTC, or not yet. “

26 May Guiyang-The 2018 China International Big Data Industry Expo kicked off in Guiyang. At the blockchain subforum, Liu Xiaolei, a professor at the Guanghua School of Management of Peking University, said that although China did not allow ICO or trading exchanges, the authority didn’t forbid ordinary people to trade Bitcoin.
She added that it was not viable to block the P2P transactions through the blockchain

“In terms of supervision, the authority does not impose absolute restriction, or not yet. But we should remind everyone, especially the general public who doesn’t know much about this new technology, the Internet, or the blockchain to invest in bitcoin, as it is still a very risky investment.”

When asked whether bitcoin could be used as cash, she said that it is absolutely impossible in most countries, especially in China. But in very few countries like Japan, it is viable.

Earlier this month, Zhaodong bought a second hand Bentley with 10 BTC in Japan, which is unbelievably cheap to most Chinese.

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On 17 May, a self-media reported that a young man bought an apartment in Shenzhen with 92.6 BTC.
According to the real estate broker:

“The buyer has achieved thousands of times of return from blockchain investment within 3 years. He is optimistic about the future application of the blockchain in the global market, especially the consumer market.”

On the other hand, the seller believes that:

“the price of Bitcoin can also rise to 30k-50k USD in the future.”

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It’s difficult to confirm the authenticity of such news. It could be a marketing campaign for the POS-like hardware. Anyway, we can see that the some innovations are still growing despite authority regulations.

BTC trading between individuals is hard to restrict or regulate. That’s why OTC trading are still alive in China.

COMMENTS(2)

  • 8BTCnews
    3 weeks ago 8BTCnews

    In China,“It’s not illegal for the public to trade #BTC, or not yet. ”
    10 BTC for a Bentley, 92.6 BTC for an apartment… #crypto trading is hard to restricthttp://news.8btc.com/its-not-illegal-for-the-public-to-trade-btc-or-not-yet …

  • Crypto
    3 weeks ago Crypto

    #iPhone maker Foxcom jumping into the #Blockchain Tech

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