Chinese Judge Cites ‘High-Pressure Crackdown’ On Speculation In Judgment Declaring Crypto Ownership Legal As Bitcoin Moves Past $97K
Amid Bitcoin’s (CRYPTO: BTC) record-breaking run, a Shanghai court has opined that owning cryptocurrencies as an individual is not against Chinese law.
What Happened: Judge Sun Jie of the Shanghai Songjiang People’s Court offered legal clarification for cryptocurrency holders in mainland China, the South China Morning Post reported Thursday.
In an article published on the official WeChat account of the Shanghai High People’s Court, Sun declared that it is “not illegal for individuals to hold cryptocurrency,” even as the blanket ban on cryptocurrency transactions enforced in 2021 remains in effect.
“That is why laws and regulations always maintain a high-pressure crackdown on speculative activities in cryptocurrency trading,” Sun said, emphasizing …
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