In what year can Bitcoin be bought and sold in China? When can Bitcoin be bought and sold in China?-web3.0-php.cn

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In what year can Bitcoin be bought and sold in China?

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Apr 15, 2024 pm 01:39 PM

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Bitcoin began trading in China in 2013, and subsequently a number of domestic exchanges were established. Bitcoin prices soared in 2017 and transaction volume surged. In 2018, the state cracked down on the virtual currency industry, leading to the closure of exchanges. Bitcoin prices rose again in 2021, triggering a trading boom. In 2022, the country strengthened supervision and Bitcoin trading activities stagnated.

In what year can Bitcoin be bought and sold in China?

When will Bitcoin start trading in the country?

The time when Bitcoin started trading in China was 2013.

Details:

In December 2013, five ministries and commissions including the People’s Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, and Bank of China jointly issued the “On Preventing Bitcoin "Notice on Currency Risks" clearly defines Bitcoin as a virtual commodity and does not have legal tender status.
Since then, domestic Bitcoin exchanges have begun to be established, including Huobi, OKEx, Binance, etc.
In 2017, the price of Bitcoin soared to a historical high, and domestic Bitcoin trading volume surged.
In 2018, relevant national departments began to rectify the virtual currency industry, and domestic Bitcoin exchanges were closed one after another.
In 2021, the price of Bitcoin rose sharply again, and there was another boom in Bitcoin trading in the country.
In 2022, the country once again increased its supervision of the virtual currency industry, and domestic Bitcoin trading activities were basically at a standstill.

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