Is it legal to buy virtual currency in the country?

Is it legal to buy virtual currency in the country? Answer: No. According to my country’s current laws and regulations: 1. The central bank’s announcement clarifies that virtual currencies are not legal and are prohibited from being circulated as currency. 2. The China Banking and Insurance Regulatory Commission announced that virtual currency transactions are illegal and financial institutions are prohibited from providing related services. 3. The criminal law stipulates that illegal operation of virtual currencies can constitute the crime of illegal operation, and serious cases can be sentenced and fined. Therefore, purchasing virtual currencies in the country is illegal and requires legal risks.

Is it legal to buy virtual currency in the country?

Answer: No

According to my country’s current laws and regulations, the purchase and transaction of virtual currencies is not legal in the country. The following are the specific regulations:

1. Announcement of the People's Bank of China

On December 5, 2013, the People's Bank of China and other five ministries and commissions issued the "Notice on Preventing Bitcoin Risks", clearly stating that virtual currencies are not legally compensable , nor issued by the monetary authority, cannot and should not be used as currency in the market.

2. China Banking and Insurance Regulatory Commission Announcement

On September 4, 2018, the China Banking and Insurance Regulatory Commission issued the "Announcement on Preventing the Risks of Speculation in Virtual Currency Transactions", reiterating that virtual currency transactions are illegal and prohibiting financial institutions from providing virtual currencies. Transaction Services.

3. Criminal Law

According to Article 225bis of the Criminal Law, illegal operation of virtual currencies may constitute the crime of illegal business. If the circumstances are serious, the person shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be fined.

Therefore, purchasing virtual currency in our country is illegal and may face legal risks. Investors should fully understand the laws and regulations before participating in virtual currency transactions to avoid losses.

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