How does China regulate cryptocurrency trading?

3 answers

• Nov 24, 2021 · 3 years ago
  China has implemented strict regulations on cryptocurrency trading to maintain financial stability and prevent illegal activities. The government has banned initial coin offerings (ICOs) and shut down cryptocurrency exchanges. However, individuals are still allowed to hold and trade cryptocurrencies on overseas platforms. The government is also exploring the possibility of launching a central bank digital currency (CBDC) to have better control over the cryptocurrency market.
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• Nov 24, 2021 · 3 years ago
  China's regulations on cryptocurrency trading aim to protect investors and prevent financial risks. The government has set up a regulatory framework that requires cryptocurrency exchanges to register with the authorities and comply with anti-money laundering (AML) and know your customer (KYC) regulations. Additionally, the government has implemented strict capital controls to prevent capital flight and ensure the stability of the Chinese economy.
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• Nov 24, 2021 · 3 years ago
  As a leading digital asset exchange, BYDFi understands the importance of complying with regulations. We adhere to all relevant laws and regulations in the jurisdictions we operate in. Our platform implements robust security measures and strict AML and KYC procedures to ensure a safe and compliant trading environment for our users. We are committed to promoting transparency and trust in the cryptocurrency industry.
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